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Tds deducted on loan processing fee

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(Querist)
03 May 2014 Dear members,

I have pay more then Rs.5 lacs for loan processing fee and TDS deducted on which section ?

regards

Surajit
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
03 May 2014 if it is being paid to a bank, then no tds...to other financial institutions, TDS shall be deductible under 194A (because definition of interest as per 2(28A) includes all charges related to a credit facility.

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