https://www.taxtmi.com/caselaws?id=780763 Turnover-based restriction on TDS exemption for specified co-operative societies is presented as a valid fiscal classification where it bears a rational nexus to the statutory objective and does not violate Article 14 merely because it operates on the payer's turnover. Deduction for co-operative income differs from complete tax exemption; interest income eligible for deduction may remain subject to TDS. A proviso may validly qualify or restrict the main TDS exemption. The banking-related exemption applies only to banking companies and co-operative societies conducting banking business, and primary agricultural credit societies providing agricultural finance to members do not fall within that category. en-us Sat, 25 Oct 2025 00:00:00 +0530 Mon, 11 May 2026 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780763 Turnover-based restriction on TDS exemption for specified co-operative societies is presented as a valid fiscal classification where it bears a rational nexus to the statutory objective and does not violate Article 14 merely because it operates on the payer's turnover. Deduction for co-operative income differs from complete tax exemption; interest income eligible for deduction may remain subject to TDS. A proviso may validly qualify or restrict the main TDS exemption. The banking-related exemption applies only to banking companies and co-operative societies conducting banking business, and primary agricultural credit societies providing agricultural finance to members do not fall within that category. Case-Laws Income Tax Sat, 25 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780763