Tds
This query is : Resolved
ajit kumar shaw
(Querist)
22 January 2015
why threre is no tds on interest paid to bank ?
22 January 2015
Interest on loan is covered to TDS u/s 194A of the Income tax Act. However, as per Sec.194A(3)(iii), interest paid to any banking company to which Banking Regulation Act, 1949 applies is not subject to tax deduction.
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