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Provision for tds of processing fees

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 September 2014 I client taken 2.75cr term loan from finance co, They charge 125000/- Processing fees.

my question is processing fees charge 125000/- it is applicable for TDS ? and Which Section.

Thanks
Burhanuddin
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
18 September 2014 unless the finance Co (assuming it is not a bank) gives you a nil-deduction certificate issued by ITD, you need to deduct TDS on the processing charges under section 194A
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 September 2014 yes correctly said so.....................
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