Tds deducted on loan processing fee
This query is : Resolved
03 May 2014
Dear members,
I have pay more then Rs.5 lacs for loan processing fee and TDS deducted on which section ?
regards
Surajit
I have pay more then Rs.5 lacs for loan processing fee and TDS deducted on which section ?
regards
Surajit
Nikhil Kaushik
(Expert)
03 May 2014
if it is being paid to a bank, then no tds...to other financial institutions, TDS shall be deductible under 194A (because definition of interest as per 2(28A) includes all charges related to a credit facility.
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