TMI Blog2015 (12) TMI 1756X X X X Extracts X X X X X X X X Extracts X X X X ..... at the Co-operative Banks are not required to deduct tax at source on time deposits o f its members paid or credited on or before 1.7.2015. - ITA No.100118 OF 2014 - - - Dated:- 16-12-2015 - The Hon ble Mr.Justice S. Abdul Nazeer And The Hon ble Mr.Justice P.S.Dinesh Kumar Sri Y.V.Raviraj, Adv. For The Appellant. SRI A.SHANKAR, ADV.For The Respondent JUDGMENT P.S.Dinesh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 194A(3)(v) of the Income-tax Act shall not apply to the payment of interest on time deposits by the co-operative banks to its members. As this amendment is effective from the prospective date of 1 st June, 2015, the co-operative bank shall be required to deduct tax from the payment of interest on time deposits of its members, on or after the 1 st June, 2015. Hence, a cooperative bank was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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