Interest Payments to APIIC Exempt from Tax Deduction at Source u/s 194A; Aligns with Section 11 Exemption.

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....TDS u/s 194A - interest payment to APIIC[State Government undertaking] - we are in concurrence with the conclusion of the ld. Commissioner for covering the APIIC u/sec. 194A(3)(iii)(f) of the Act and to the effect as well that APIIC is an organization exempted u/sec. 11 of the Act having filed ‘NIL’ taxable income, is not liable to tax and, therefore, deduction of tax at source qua APIIC is not attracted. - AT....