Tds deduction is applicable
This query is : Resolved
Savan Kasliwal
(Querist)
05 September 2014
I hv borrowed a loan from NBFC of Rs. 3.00 cr. for 07 years. But I hv paid it within 1 year. For that I paid Loan Foreclosure charges of Rs. 15,60,000/- in a Pvt. Ltd. Company.
So, my query is whether TDS is applicable / attract on Loan Foreclosure Charges?
Pls do the needful at the earliest.
Awaiting for positive reply.
With Regards,
Savan Kasliwal
So, my query is whether TDS is applicable / attract on Loan Foreclosure Charges?
Pls do the needful at the earliest.
Awaiting for positive reply.
With Regards,
Savan Kasliwal
05 September 2014
No. TDS not applicable. Its in the nature of penalty therefore TDS not required to be deducted.
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