Tds

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CA YOGESH GARG GMG PLYWOODS

CA YOGESH GARG GMG PLYWOODS (Querist)
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16 August 2011 is there any liability to deduct TDS on any interest payment to any FI (not asking abt banks)...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 August 2011 yes. TDS need to be deducted for paying interest to financial institutions, unless they have specific exemption

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CA YOGESH GARG GMG PLYWOODS

CA YOGESH GARG GMG PLYWOODS (Querist)
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17 August 2011 thank you sir...can u plz tell, wht is specific exemption..

CA YOGESH GARG GMG PLYWOODS

CA YOGESH GARG GMG PLYWOODS (Querist)
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17 August 2011 thank you sir...can you plz tell, what is that specific exemption

CA YOGESH GARG GMG PLYWOODS

CA YOGESH GARG GMG PLYWOODS (Querist)
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17 August 2011 thank you sir...can you plz tell, what is that specific exemption

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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CA YOGESH GARG GMG PLYWOODS

CA YOGESH GARG GMG PLYWOODS (Querist)
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17 August 2011 ok sir...really yoyu all are very informative...i love caclubindia..

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