Tds
This query is : Resolved
14 July 2016
Now i am doing an audit.
In that they have 2 term loans, For a TL they are paying only interest every month and the bank is deducting TDS for it, but for other TL they are paying EMI consisting both principal and interest as well. In the second case bank is not deducting TDS. Please help me is there any provision regarding this..?
In that they have 2 term loans, For a TL they are paying only interest every month and the bank is deducting TDS for it, but for other TL they are paying EMI consisting both principal and interest as well. In the second case bank is not deducting TDS. Please help me is there any provision regarding this..?
Amol S Joglekar
(Expert)
14 July 2016
Sorry.........you say that BANK is deducting????? Bank need NOT deduct anything except on the interest on Fixed Deposits
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