194A applicability

10 May 2021

Whether TDS is applicable on payment of interest to a lender Company who is subsidiary of a Banking Company-Please advise

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5 Replies

Dhruv Jariwala (9 Points)
Replied 10 May 2021

No TDS will be deducted if any interest other than from securities is paid or credited to any banking co.

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 10 May 2021

Agreed

sabyasachi mukherjee (26047 Points)
Replied 10 May 2021

Generally while paying TDS ON INTEREST ON LOAN WE DEDUCT TDS @ 10%payable to an assesse.
Sec 194 A.

Lotus Agrawal (Practice) (1356 Points)
Replied 10 May 2021

If banking company, then No tds shall be deducted.

sabyasachi mukherjee (26047 Points)
Replied 10 May 2021

Not necessarily there are seperate provisions for that..

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