Interest under cc limit
This query is : Resolved
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
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
05 May 2014
yes in case under sec 193 or 194a WHICHEVER is applicable to u in this case.
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%
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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