if TDS to be duducted on Discounting charges paid to a Bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2010
my customer discounted his payment due to me after 180 days so i have to pay discount charges of bank for 180 days.
if TDS is required to be deducted on such payment
if TDS is required to be deducted on such payment
Shyam Lal Naik
(Expert)
26 May 2010
Discount, in the case of bill discount, is nothing but interest. Interest paid to Banking Companies are outside the purview of Section 194A.
taxindiaconnect
(Expert)
29 May 2010
I agree with shyam
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