TDS On Banking Transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2011 We have a current account with a private sector bank.Recently we have increased our cash limit,bank has debited our account for this by arround Rs.700000 and legal charges of Rs. 30000/- along with applicable service tax amount. will this transaction attract TDS provision.

Pawan Periwal

Pawan Periwal (Expert)
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18 February 2011 Plz check with bank. No tax requirement herein.

Unable to understand the debit of Rs 70000

NO TDS applicable if the payment is made to banks

Guest

Guest (Expert)

18 February 2011 What is the nature of Rs. 7,00,000/-