Chit fund dividend payments are not considered interest u/s 2(28) and exempt from TDS u/s 194A.
X X X X Extracts X X X X
X X X X Extracts X X X X
....TDS on dividend / premium on chit fund – Interest u/s 2(28) - he payment to the subscribers of a chit towards dividend does not partake the character of interest - No TDS u/s 194A - AT....
TaxTMI