Tds
This query is : Resolved
16 August 2011
is there any liability to deduct TDS on any interest payment to any FI (not asking abt banks)...
CMA Ramesh Krishnan
(Expert)
16 August 2011
yes. TDS need to be deducted for paying interest to financial institutions, unless they have specific exemption
Message likes :
1 times
17 August 2011
thank you sir...can u plz tell, wht is specific exemption..
17 August 2011
thank you sir...can you plz tell, what is that specific exemption
17 August 2011
thank you sir...can you plz tell, what is that specific exemption
CA PARAS BAFNA
(Expert)
17 August 2011
Vide Section 194A(3)(iii)f
Government has notified on time to time, certain institutions, and prescribed that TDS will not be required to be deducted in case of any interest payment is made to such institutions.
These institutions are like Govt. owned institutions, corporations etc.
.
In case of payment of interest to Non Banking Finance Companies, TDS is required to be deducted.
Government has notified on time to time, certain institutions, and prescribed that TDS will not be required to be deducted in case of any interest payment is made to such institutions.
These institutions are like Govt. owned institutions, corporations etc.
.
In case of payment of interest to Non Banking Finance Companies, TDS is required to be deducted.
Message likes :
1 times
17 August 2011
ok sir...really yoyu all are very informative...i love caclubindia..
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