Tds query
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 August 2016
Hi Experts
1) ABC pvt Ltd has taken secured loan for Rs. 30 Lac from Bank and paying monthly Interest after TDS deduction.
In my opinion TDS deduction is not applicable for Banking co's unde Banking regulation act.
If it is applicable then under what circumstances or on which conditions it should be deducted?
Thanks
1) ABC pvt Ltd has taken secured loan for Rs. 30 Lac from Bank and paying monthly Interest after TDS deduction.
In my opinion TDS deduction is not applicable for Banking co's unde Banking regulation act.
If it is applicable then under what circumstances or on which conditions it should be deducted?
Thanks
22 August 2016
You are right no TDS applicable to banking companies.
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