Tds
This query is : Resolved
Avinash Yadav
(Querist)
24 August 2012
An Indian Public Ltd. company who had issued NCD, Has Company responsible for deducting TDS on interest payable to NCD Holder?
Amol S Joglekar
(Expert)
24 August 2012
Yes, very much responsible for TDS.
Avinash Yadav
(Querist)
24 August 2012
Where it is mentioned that company is responsible for deducting TDS on Interest of NCD payable to Holder.
Amol S Joglekar
(Expert)
24 August 2012
Request you to please refer the sections 194. The TDS provisions applicable to interest payment.
Avinash Yadav
(Querist)
24 August 2012
But it is talking about deposites on other than securities not deposite against securities
Amol S Joglekar
(Expert)
25 August 2012
That view may not stand in the arguments at tribunal or higher level. "Interest on securities" per se is dissolved head of income. The only point in your favour could be the word 'markatable' in the deficition of 'security' as per 2(h) of secirities...... Act....
Avinash Yadav
(Querist)
27 August 2012
Thank You for your valuable replies.
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