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We are running a co operative credit society re...

We are running a co operative credit society regd.with ap govt in MACCS act 1995.All the employee...

We are running a co operative credit society regd.with ap govt in MACCS act 1995.All the employees of our company are the members and business is carried with in us. The nature of our business is taking deposits from members and lending it to other members.Yearly auditing is being done by charted accountant and the same is being submitted to the Registrar,co operative society,Andhrapradesh. I want to know that If we are paying dividend regularly Is it required to pay income tax on the profit earned by the society.and 2. Is it required to collect TDS form form depositers.

We are running a co operative credit society regd.with ap govt in MACCS act 1995.All the employees of our company are the members and business is carried with in us. The nature of our business is taking deposits from members and lending it to other members.Yearly auditing is being done by charted accountant and the same is being submitted to the Registrar,co operative society,Andhrapradesh. I want to know that If we are paying dividend regularly Is it required to pay income tax on the profit earned by the society.and 2. Is it required to collect TDS form form depositers.

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