There is exemption from TDS on
payments of interest to members by a co-operative society. This is amended to
be withdrawn in respect of payments of interests made by co-operative banks to
its members. W.e.f. 01.06.2015
The Finance Bill proposes to amend
section 192 of the IT Act to provide that for purposes of estimating income of
the employee for deduction of tax thereunder, the employer will obtain from the
employee evidence of the prescribed claims (including claim of set off loss)
under the Act in the form and manner prescribed. Such amendment is amended to
take effect from June 1, 2015.
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