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TDS deduct from interest on term loan
I have paid term loan to bank with interest if I can deduct tds for this interest?
Replies (5)
No TDS shall be deducted, where payment is made to banks.
No TDS deducted when you are paid interest to any financial institution.
what is the reason?
Payment made ro banks is not liable to TDS
if it is NBFS i can deduct TDS
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