tds on interest
This query is : Resolved
03 August 2010
Payment of interest to bank on overdraft facilities is tds need to be deducted
03 August 2010
No..
No TDS is required on Interest payment to Bank.
No TDS is required on Interest payment to Bank.
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CA. Pradeep Nayak
(Expert)
03 August 2010
TDS not applicable on interest payment to banks.
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VINOD ARORA
(Expert)
03 August 2010
As per S. 194A, TDS is not deductible on interest payments to banking companies registered under Banking Regu Act
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03 August 2010
AGREED, NO TDS ON INTEREST ON CC LIMIT/OVERDRAFT LIMIT / TERM LOAN BY BANKING COMPANIES REGSITERED UNDER BANKING REGUL ACT.
IF YOU ARE PAYING INTEREST ON TERM LOAN TO NBFC THEN TDS WILL BE DEDUCTED.
IF YOU ARE PAYING INTEREST ON TERM LOAN TO NBFC THEN TDS WILL BE DEDUCTED.
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