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
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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
