Tds
This query is : Resolved
Omprakash saini
(Querist)
20 April 2018
Hello,
Please suggest me that tds will dedute or not on Interest on term loan from Axis Bank. I am waiting your best suggestion.
Thank you
Please suggest me that tds will dedute or not on Interest on term loan from Axis Bank. I am waiting your best suggestion.
Thank you
CA R SEETHARAMAN
(Expert)
21 April 2018
Interest paid to any banking company to which Banking Regulation Act, 1949 applies is not subject to tax deduction.
21 April 2018
No need to deduct income tax because the payee is governed by Banking
Regulation Act,1949 to whom exemption is given in section 194A(3)(iii)(a)
Regulation Act,1949 to whom exemption is given in section 194A(3)(iii)(a)
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