TDS EXEMPTION RELATED

[satish valand]

RESPECTED SIR ,

WE ARE VADNAGAR NAGARPALIKA (MUNCIPALITY). AND BANK OF BARODA HAS DEDUCTED TDS FROM INTEREST OF FIXED DEPOSITE RECIEPT ,

SO PLS SUGGEST IS THERE ANY CIRCULER REGARDING LOCAL BODIES ARE EXEMPTED FROM NOT DEDUCTIN TDS PLS 9714130006 ITS URGENT

[Ganeshan Kalyani]

Sir, Please see for the provision of Form 15G/H. Thanks.

AI Summary

TDS exemption for municipal bodies: submit Form 15G/H to prevent tax deduction at source on interest income.
Municipal administration faced TDS on interest from fixed deposits and was advised that submission of Form 15G/H is the operative mechanism to prevent tax deduction at source when the recipient meets the conditions for non-deduction.