2015 (12) TMI 1659

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..... ircular No.19/2015 in F.No.142/14/2015- TPL, has clarified that the Co-operative Banks need not deduct tax at source under Section 194A of the Act. - Decided in favour of assessee. - ITA No. 100001 of 2014 - - - Dated:- 16-12-2015 - S. Abdul Nazeer And P. S. Dinesh Kumar, JJ. For the Appellant Sangram S. Kulkarni For the Respondent : Y. V. Raviraj JUDGMENT P. S. Dinesh K .....

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..... apply to the payment of interest on time deposits by the co-operative banks to its members. As this amendment is effective from the prospective date of 1 st June, 2015, the co-operative bank shall be required to deduct tax from the payment of interest on time deposits of its members, on or after the 1 st June, 2015. Hence, a cooperative bank was not required to deduct tax from the payment o .....

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