TDS ON LC USANCE PERIOD
This query is : Resolved
20 September 2019
OUR CUSTOMER OPENED AN 120 DAYS LC. 90 DAYS USANCE IS IN OUR SCOPE AND 30 DAYS USANCE IS IN CUSTOMER SCOPE. DO WE NEED TO DEDUCT TDS @10% WHILE CLAIMING 30 DAYS USANCE INTEREST IN BOE. PLEASE ADVISE AS SOON AS POSSIBLE.
04 June 2020
TDS needs to be deducted when it exceeds the limits prescribed under Income Tax
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