Tds deduction on interest inclusive
This query is : Resolved
Nikhil Sharma
(Querist)
26 July 2020
Dear Experts,
We have loan from NBFC,
since NBFC has debited processing Fee & other charges, pls clarify are we required to deduct tds on processing fee & other charges inclusive interest,
Thanks
Nikhil
We have loan from NBFC,
since NBFC has debited processing Fee & other charges, pls clarify are we required to deduct tds on processing fee & other charges inclusive interest,
Thanks
Nikhil
VIJAY KUMAR
(Expert)
27 July 2020
U/S 194A Deduct @ 7.5% up to 31.03.2021 and 10 % thereafter from the NBFC.
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