TDS exemption for co-operative bank members: interest on deposits received without withholding, subject to qualifying membership. Section 194A exemption permits a member of a co-operative bank to receive interest on both time deposits and deposits other than time deposits without TDS; clause (viia) applies only to non-member depositors for interest on deposits other than time deposits. The member exemption is confined to members admitted per registration and bye-laws who have subscribed and fully paid at least one share, have voting/participation rights in general meetings, and are entitled to share in profits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
TDS exemption for co-operative bank members: interest on deposits received without withholding, subject to qualifying membership.
Section 194A exemption permits a member of a co-operative bank to receive interest on both time deposits and deposits other than time deposits without TDS; clause (viia) applies only to non-member depositors for interest on deposits other than time deposits. The member exemption is confined to members admitted per registration and bye-laws who have subscribed and fully paid at least one share, have voting/participation rights in general meetings, and are entitled to share in profits.
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