TDS on Foreclosure Charges
This query is : Resolved
10 June 2011
Whether foreclosure charges are to be treated as Interest and is it liable to T D S u/s 194A pls quote Case law in favour or against
11 June 2011
foreclosure word is used for early payment of loan taken from bank, and the panel charges are not interest but to be treated as penalty for breach of contract.
Message likes :
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11 June 2011
sir,
thanks for the reply but can you Quote some Case Law favouring this. pls its a humble request
thanks for the reply but can you Quote some Case Law favouring this. pls its a humble request
04 July 2011
no reply 1st time
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