Tds on interest
This query is : Resolved
11 July 2012
dear experts,
i have a doubt, whether TDS will be applicable on interest component for business loan received from private banks, ex. tata capital ltd/kotak mahindra/Religare...?
i have a doubt, whether TDS will be applicable on interest component for business loan received from private banks, ex. tata capital ltd/kotak mahindra/Religare...?
12 July 2012
Dear Pradeep,
As per sec 194A we need not deducted tds on interest if it is paid to Banking comapany, cooperative society engaged in banking business,FI,LIC,UTI or insurance company.
Now u have to see whether those companies from which ur company have taken a loan--falls in the above category, if they falls in the above category then need not deduct TDS(Ex: If ur company has taken a loan from kotak bank then no need to deduct tds)
I think your doubt is cleared
Rgds
Shakti Soni.
As per sec 194A we need not deducted tds on interest if it is paid to Banking comapany, cooperative society engaged in banking business,FI,LIC,UTI or insurance company.
Now u have to see whether those companies from which ur company have taken a loan--falls in the above category, if they falls in the above category then need not deduct TDS(Ex: If ur company has taken a loan from kotak bank then no need to deduct tds)
I think your doubt is cleared
Rgds
Shakti Soni.
Message likes :
1 times
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
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
