TDS ON INTEREST OF BG TO SUPPLIER
This query is : Resolved
01 June 2021
Dear Sir,
We have a bank guarantee from our bank and which we provide to our supplier and purchase material from the supplier against this BG.
and supplier charged to interest on BG limit
so my question is hear " Bank Guarantee interest Paid to our supplier Will Attract TDS ?
Amount of interest monthly appx 1.00 lakh.
Thank you
Kindly guide us.
We have a bank guarantee from our bank and which we provide to our supplier and purchase material from the supplier against this BG.
and supplier charged to interest on BG limit
so my question is hear " Bank Guarantee interest Paid to our supplier Will Attract TDS ?
Amount of interest monthly appx 1.00 lakh.
Thank you
Kindly guide us.
01 June 2021
TDS applicable on such interest payments.
05 June 2021
section 194A applicable interest paid more than 5000 PA TDS NEED TO BE DEDUCTED @10% FOR PAN FURNISHED BY ASSESSEE ,20% IF ASSESSEE DOSEN'T FURNISH PAN
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