W Sridhar
1) Weather TDS has to be recovered by a COOP. CREDIT SOCIETY on the interest and dividend paid to it’s members?
2) Weather TDS has to be recovered by a COOP. CREDIT SOCIETY on on interest and dividend paid to it’s nominal members?
3) Is it required by the members of a coop CREDIT SOCIETY to declare the interest and dividend received from the society and pay income tax on these amounts?
I C Naik
TDS from interest on DEPOSITS paid in excess of Rs 10,000 in a year has to be deducted. Dividend payments are tax free.