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Tds on late payment charges to party (Income Tax)

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This query is : Open

Querist : Anonymous

( Querist )
29 November 2012

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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