LM, a co-operative society, has paid interest of ₹1,05,000 to PQ, another co-operative society. The tax to be deducted at source u/s 194A is:

CS Executive · Tax Laws and Practice · PYQS · June 2018
LM, a co-operative society, has paid interest of ₹1,05,000 to PQ, another co-operative society. The tax to be deducted at source u/s 194A is:
(A) ₹10,500
(B) ₹10,815
(C) ₹5,250
(D) Nil

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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