No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]

By Kalyani B. Nair - On August 11, 2023 7:30 am - 2 mins read
No Obligation on Bank to Deduct TDS from Interests on FD - Bank - Deduct TDS from Interests on FD Paid to Jammu Development Authority - J & K and Ladakh High Court - TDS - Taxscan

The Jammu and Kashmir and Ladakh High Court observed that there is no obligation on the bank to deduct Tax Deduction at Source (TDS) from interests on fixed deposit (FD) paid to Jammu Development Authority. For both the assessment years i.e 2010-11 and 2011-12, the Joint Commissioner of Income Tax, Range-1 Jammu [‘the Assessing Authority’]…

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