Tds deduction
This query is : Resolved
JEELAN BASHA
(Querist)
21 July 2015
Dear Sir
we are manufacturing company and we have received a bill from YES Bank as Advisory Fees including service tax for providing advise for term loan.My query is can we deduct TDS.If Yes please quote reference.
Pls send your replies to jeelanbashas@rediffmail.com
from
Jeelan
we are manufacturing company and we have received a bill from YES Bank as Advisory Fees including service tax for providing advise for term loan.My query is can we deduct TDS.If Yes please quote reference.
Pls send your replies to jeelanbashas@rediffmail.com
from
Jeelan
21 July 2015
Jeelan, In my opinion if it is purely a advisory service that they have given you which requires the skill, acumen and knowledge in the specialized field i.e. preparation of a scheme for required finances and to tie-up required loans then it comes under the purview of S.194J and TDS has to be deducted.If it is loan processing charge then TDS will not be applicable.
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