SEC 194A
This query is : Resolved
Gaurav Ahuja
(Querist)
15 February 2011
whether we deduct TDS u\s 194A when we pay interest to bank on loan?
if deduct TDS, we also charge Surcharge if interest amt exceed 1 crore?
if deduct TDS, we also charge Surcharge if interest amt exceed 1 crore?
15 February 2011
No TDS deduction is required from a Banking Company to which the Banking Regulation Act 1949 applies.
CA PARAS BAFNA
(Expert)
16 February 2011
In case interest is paid to any Banking
Company or a co-operative bank, no TDS is required be deducted U/s 194A.
Company or a co-operative bank, no TDS is required be deducted U/s 194A.
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