https://www.taxtmi.com/highlights?id=71028 TDS u/s 194A - It is abundantly clear that the interest paid or accrued on the Term Deposit Accounts under Saving Bank Account of JKSRRDA was the money belonging to the Central Government and, therefore, exempted from deduction of income tax at source u/s 194A. - Thus raising a demand on account of failure of the assessee/Bank to deduct tax at source u/s 194A on the interest income accrued on the Term Deposit Accounts of the JKSRRDA was legally and factually flawed - HC en-us Fri, 21 Jul 2023 08:27:16 +0530 Fri, 21 Jul 2023 16:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71028 TDS u/s 194A - It is abundantly clear that the interest paid or accrued on the Term Deposit Accounts under Saving Bank Account of JKSRRDA was the money belonging to the Central Government and, therefore, exempted from deduction of income tax at source u/s 194A. - Thus raising a demand on account of failure of the assessee/Bank to deduct tax at source u/s 194A on the interest income accrued on the Term Deposit Accounts of the JKSRRDA was legally and factually flawed - HC Highlights Income Tax Fri, 21 Jul 2023 08:27:16 +0530 https://www.taxtmi.com/highlights?id=71028