TDS not deductible on NCDs & FDR of value less than Rs. 5000: SC

CIT (TDS) Vs Jai Prakash Associates Ltd (Supreme Court of India) We have heard Shri N. Venkataraman, learned ASG appearing on behalf of the Revenue and Shri Nishit Agrawal, learned counsel appearing on behalf of the respondent/Assessee. The main issue is with respect to the chargeability of TDS on non-convertible debentures (NCDs) and FDR below Rs. 5,000/-. Having gone through the judgment and orders passed by the Tribunal as well contd. as the High Court, we are of the opinion that no error has been committed by the Tribunal and/or the High Court on the chargeability of  TDS amount on non-...