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Tds on bank guarantee commission

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(Querist)
15 March 2012 Whether TDS applicable on Bank Guarantee Commission?

If yes than under which section & at which rate?

Kindly clarify the above matter
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
15 March 2012 TDS deduction on payments made to the Banks is exempted. So no need to deduct any type of TDS on payment of Commission,Interest, etc... to Banks.
OM SAI SRI SAI JAI JAI SAI
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