TDS Applicable on Interest Paid by Primary Co-operative Societies to Their Members, Rules Court: Kerala High Court

Kerala High Court recently delivered a significant judgment clarifying the applicability of Tax Deducted at Source (TDS) on interest payments made by Primary Co-operative Societies to their members. The decision came in a batch of petitions, including the leading case Vellangallur Peoples Welfare Co-operative Society Ltd. and Another VERSUS Union of India and Others, where the petitioners challenged the constitutional validity of the proviso to Section 194A(3) of the Income…