TDS issue

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Rachit (Querist)
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09 February 2011

Whether TDS is required to be deducted u/s. 194H of the I. Tax Act, 1961, on Bank Guarantee Commission paid to bank ?

K V Subba Rao

K V Subba Rao (Expert)
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09 February 2011 There is no liability for TDS on payments made towards loan processing charges/bank guarantee commission/ L.C. charges etc. to banking companies.

Source: http://www.feeleminds.com/forum/tds-on-bank-guarantee-t10867.html-st=0&sk=t&sd=a

Guest

Guest (Expert)

09 February 2011 Bank guarantee commission is not at all commission and brokerage defined u/s 194H.