TDS ON INTEREST ON LC DISCOUNTING
This query is : Resolved
30 July 2010
OUR COMPANY PAID INTEREST TO SUPPLIER . WHICH WAS CHARGED BY BANK TO HIM FOR DISCOUNTING OF LC ISSUED BY US IN HIS FAVOUR.
WILL OUR COMPANY DEDUCT TDS ON THE INTEREST PAID TO SUPPLIER.
WILL OUR COMPANY DEDUCT TDS ON THE INTEREST PAID TO SUPPLIER.
31 July 2010
Since it is reimbursment in nature TDS will not appllicable
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