Cooperative societies in banking exempt from TDS on member deposits under Income Tax Act Section 194A(3)(i)(b). CBDT circulars can't override law. https://www.taxtmi.com/highlights?id=24094 TDS on interest paid on deposits by its members u/s 194A(3)(i)(b) - CBDT circular cannot over-ride the prescription of statute passed by the parliament. And, there is no quarrel that assessee is a co-operative society engaged in banking business - No TDS - AT en-us Thu, 06 Aug 2015 07:52:51 +0530 Thu, 06 Aug 2015 07:52:51 +0530 TaxTMI RSS Generator Cooperative societies in banking exempt from TDS on member deposits under Income Tax Act Section 194A(3)(i)(b). CBDT circulars can't override law. https://www.taxtmi.com/highlights?id=24094 TDS on interest paid on deposits by its members u/s 194A(3)(i)(b) - CBDT circular cannot over-ride the prescription of statute passed by the parliament. And, there is no quarrel that assessee is a co-operative society engaged in banking business - No TDS - AT Highlights Income Tax Thu, 06 Aug 2015 07:52:51 +0530 https://www.taxtmi.com/highlights?id=24094