Tds on late payment charges to party

 


Querist : Anonymous (Querist) 29 November 2012

Sir,
I would like to know that shall I deduct TDS on payment of late payment charges against purchase bills, if yes what is the rate.


Sunny Sonwal (Expert) 29 November 2012

No, I don't think so.

TDS would be not applicable on that.



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