TDS on Commercial Paper
This query is : Resolved
26 January 2009
Commerical Paper are issued at Discount to the Face Value. Discount is basically the interest for the tenure of the instrument.
Is TDS deductible on the same and is there any relevant circular for the same
Is TDS deductible on the same and is there any relevant circular for the same
26 January 2009
tds is not applicable to commercial papers you are this sales transactons
26 January 2009
Mr.Hemant not clear on your reply.
As CP will be issued by the borrower, at the time of redemption will TDS be applicable on the discount portion.
Can you also give reference to the relevant circular as well which states no TDS is applicable on discount
As CP will be issued by the borrower, at the time of redemption will TDS be applicable on the discount portion.
Can you also give reference to the relevant circular as well which states no TDS is applicable on discount
26 January 2009
Although exact circular is not immediately traceable, Commercial Paper has more or less the same features as that of Deep Discount Bond. So it appears to me that interest portion by whatever it is called is liable for TDS
Cir No 2/2002 dt 15.02.02 may be perused
Cir No 2/2002 dt 15.02.02 may be perused
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Rental income gst and it purpose
- Management System (IMS)
- EPF FULL & FINAL RULES IN 2026
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
