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Interest under cc limit

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05 May 2014 Dear sir,

Our is a Pvt.ltd Company We had Bank cc Limit Bank Will Deduct Interest on Every Month on our Outstanding Balance We Need to Give TDS certificate to Bank
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 May 2014 yes in case under sec 193 or 194a WHICHEVER is applicable to u in this case.
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Rupesh Jain

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Rupesh Jain (Expert)
05 May 2014 we you have a/c with bank then no tds deduction required. if you have a/.c with NBFC (non banking financial company) then you have to deduct tDS u/s 194A @ 10%
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 May 2014 No need to deduct TDS if interest paid to a banking company to which the Banking Regulation Act 1949 applies.
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