Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 April 2013
Kindly reply whether TDS under Section 194A is to be deducted on interest paid to suppliers for late payment of dues/ bill amount?????
27 April 2013
Yes TDS required to be deducted provided the threshold limit of Rs 5000/- is crossed. Rate 10%.
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2013
But what if these transactions are settled merely by issue of debit/credit note?
Again, I came across an article where this income is considered as PGBP income and thus TDS should not be applicable.
Kindly guide as its an important and urgent matter.
Again, I came across an article where this income is considered as PGBP income and thus TDS should not be applicable.
Kindly guide as its an important and urgent matter.
29 April 2013
If the expense is booked as interest then in my view TDS will have to be deducted. But if adjustment is made only through debit/credit note TDS deduction not required.
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