Is there any TDS liability on Interest charged by Bank On Loan Against Share and Overfdraft Facility for Private Limited company.
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TDS Applicabilty on Interest charged by banks
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No. TDS Provisions of Sec.194A are not applicable where interest is paid to any banking company, Co op Banks, LIC of India, UTI and /or other notified institutions. (Refer Circular No.5P dt.09-10-1967).
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