Provision for tds of processing fees
This query is : Resolved
Querist : Anonymous
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
my question is processing fees charge 125000/- it is applicable for TDS ? and Which Section.
Thanks
Burhanuddin
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
18 September 2014
yes correctly said so.....................
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