Tds on interest paid to vendor for late payment of dues
This query is : Resolved
07 December 2012
If a vendor is charging interest on late payment what is the chargeabillity of tds in this case
07 December 2012
hi
TDS to be deducted u/s194A
Thanks//Vaibhav
Revert for more clarity.
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TDS to be deducted u/s194A
Thanks//Vaibhav
Revert for more clarity.
Use thank button to convey your appreciation.
07 December 2012
But i came to know it was not chargeable to TDS please refer the below link
https://www.caclubindia.com/articles/tds-under-section-194a-15919.asp#.UMGhhoPFWjs
https://www.caclubindia.com/articles/tds-under-section-194a-15919.asp#.UMGhhoPFWjs
07 December 2012
hi
Its been tribinual decision n not that of Supreme court, so be on safer side it is suggested to deduct TDS since word any debt incurres is exhaustive.
Thanks//Vaibhav
Its been tribinual decision n not that of Supreme court, so be on safer side it is suggested to deduct TDS since word any debt incurres is exhaustive.
Thanks//Vaibhav
08 December 2012
Mr Jagdeesh!
Interest Amount part is not mentioned.
Still be secure and on safe side - deduct TDS.
Non-deduction may put you into querries and explanation.
Interest Amount part is not mentioned.
Still be secure and on safe side - deduct TDS.
Non-deduction may put you into querries and explanation.
08 December 2012
More clarity is expected in this budget & to avoid this you may seek an opinion of your tax auditots because they are going to authorise your books eventually.
thanks//vaibhav
thanks//vaibhav
08 December 2012
FOR NON DEDUCTION YOU HAVE TO PASS THROUGH LOT OF METHODS.
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