Tag Archives: Secton 11(5)

Section 194N Income Tax :TDS on Payment of certain amounts in cash by Banks/Post offices

By | July 6, 2019
2 Comments
TDS on cash withdrawal from banks

Section 194N Income Tax : Payment of certain amounts in cash Section – 194N, Income-tax Act, 1961 – FA, 2024 1 [Payment of certain amounts in cash.2  194N. Every person, being,— (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that… Read More »

When Investment in FDR is treated as Application of Income u/s 11(5)

By | February 10, 2016
0 Comment

Where the surplus money has been so invested in the FDRs, the said investment is to be treated as application of income of the previous year in which such investment is made, in the hands of the assessee.? Held There has to be nexus between investment in FDRs and achievement of the charitable objects of… Read More »