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Tds on interest paid to bank

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Rutuja (Querist)
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23 August 2012 Bank charges paid by the company to the bank on various services provided by the bank are subject to TDS ?

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Guest (Expert)

23 August 2012 TDS ont applicable on payments made to banks.

Guest

Guest (Expert)

23 August 2012 *not applicable

SANYAM ARORA

SANYAM ARORA (Expert)
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23 August 2012 No you don't need to deduct Tds while making payment to bank

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 October 2021 Banks are exempted from such deductions, but not NFBCs.

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