TDS Applicability for Payment of Interest on NCD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2010
Non Convertible debentures are issued by SEBI registered Mutual Funds. Whether on Payment of Interest on NCD, TDS is deductible ? Any provisions in IT Act or any circular to this effect.
Shudhanshu Agrawal
(Expert)
21 June 2010
As per Section 193 TDS will be applicable except where CG with the notification had exempted.
Shyam Lal Naik
(Expert)
21 June 2010
How can debenture be issued by a mutual fund ?
All Mutual Funds/Asset Management Company are registered with SEBI. What is the significance of saying SEBI registered mutual fund ?
All Mutual Funds/Asset Management Company are registered with SEBI. What is the significance of saying SEBI registered mutual fund ?
Aditya Maheshwari
(Expert)
21 June 2010
TDS not to be deducted if any interest payable on any security issued by a company, where such security is in dematerialised form and is listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and the rules made thereunder.
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