TDS applicability on Interest charg by Banks & NBFC
This query is : Resolved
HEMAL M JHAVERI
(Querist)
28 January 2009
Please tell me is there any TDS liability for Private Limited company for interest chrages by bank on Overdraft & loan against Share Facility and also for such type of finance taken from NBFC
Ram Avtar Singh
(Expert)
28 January 2009
In case of Bank Interest on OD/CC A/c No TDs is Applicable.
HEMAL M JHAVERI
(Querist)
28 January 2009
Thank You Sir,
K V Subba Rao
(Expert)
28 January 2009
No requirement for TDS-Refer Para 156 of 29th edition of Singhania's Reackoner
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