Sir,
We Book Secured Loan Interest Rs. 150000/- Party Name PNB Finance as on March 2008. this organisation belong to Govt. so can you tell me TDS Deducted on this amount Yes & Not.
Thanking You
Uttam Sharma
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TDS Deduction
Replies (5)
yes , the condition of TDS will be applied. The finance company of govt. will deduct TDS at the rate of 10%, if the amount of interest is above Rs.10000 & the same condition is applicable in your's question.
If you are paying any amount to Govt. or Financial Institutions, then you need not deduct TDS on such amount.Hence you need not deduct TDS.
No
I think it is the exception for non deduction for payment to the Govt. Institution.
since you are paying it to govt hence no deduction of TDS is required
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