Tds

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Avinash Yadav (Querist)
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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

Amol S Joglekar (Expert)
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24 August 2012 Yes, very much responsible for TDS.

Avinash Yadav

Avinash Yadav (Querist)
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24 August 2012 Where it is mentioned that company is responsible for deducting TDS on Interest of NCD payable to Holder.

Amol S Joglekar

Amol S Joglekar (Expert)
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24 August 2012 Request you to please refer the sections 194. The TDS provisions applicable to interest payment.

Avinash Yadav

Avinash Yadav (Querist)
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24 August 2012 But it is talking about deposites on other than securities not deposite against securities

Amol S Joglekar

Amol S Joglekar (Expert)
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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

Avinash Yadav (Querist)
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27 August 2012 Thank You for your valuable replies.

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