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TAX FORUM: QUESTIONS & ANSWERS
TDS on cumulative deposits
You have stated in The Hindu dated November 23, 2009, that banks need not deduct tax where no credit is made in the account of the depositor. Banks are only following the mandate of Sec. 198, which requires deduction even for a provision for ...

TAX FORUM: QUESTIONS & ANSWERS
Micro finance: whether a charitable activity?
Please explain the effect of the proviso to Sec. 2(15) by the Finance Act, 2008, on a society registered under Sec. 12A and engaged in micro finance activities. The objects of the society are to improve the living conditions of the poor ...

TAX FORUM: QUESTIONS & ANSWERS
Ignorance of deductors, ordeal of deductees
I am a retired person with taxable income. I am having a deposit with local post office under Senior Citizens Savings Scheme. The person in the counter blindly insists everybody to submit Form 15G. Though I have explained to him that I ...

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