Tds not deducted on interest paid to nbfc
This query is : Resolved
09 November 2014
WE PAID INTEREST TO BAJAJ FINANCE LTD BUT TDS ON DEDUCTED. WE ARE PRIVATE LIMITED CO.
SO, INTERST IS DISALLOW OR NOT
SO, INTERST IS DISALLOW OR NOT
09 November 2014
Yes.Interest paid without TDS is disallowed.Only for proprietary concerns,TDS provisions are relaxed for the first year of their Tax Audit.
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