TDS on Bill Discounted
This query is : Resolved
Nirav Vora
(Querist)
10 September 2008
we are geting funds from one of the investing co. by giving / discounting the bills for the certain period. On that they are charging some fixed % of commission. We accounted the said charges as bill discounting charges. Whether this transaction covered under TDS implication ? whether section 58 of the companies act is applicable ?
15 September 2008
Dear Nirav,
TDS is not to be deducted.
For Companies Act please take the help of other Expert.
Regards'
Yatesh Renuke.
TDS is not to be deducted.
For Companies Act please take the help of other Expert.
Regards'
Yatesh Renuke.
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