Tds on interest on loan from kotak mahindra bank prime ltd.
Querist : Anonymous
Querist : Anonymous
TDS provision under section 194A will not applicable to the loan from bank or its subsidiary.
It will applicable only for deposits i.e., fixed deposit with banks
You taken loan and it is not fixed deposit. Therefore, you cannot deduct the TDS u/s. 194A
Querist : Anonymous
Can I get any notification or documentary proof for the same??
I will be grateful to you.
The full text of the section is available www.incometaxindia.gov.in
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