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Tds on interest
loan is taken from bank.. will the tds attracts for interest on loan?
Replies (6)
If the Bank is covered under the Banking Regulations Act, then the liability to deduct and pay TDS u/s 194A does not arise.
But if the Loan is taken from a Financial Institution, you will have to deduct TDS u/s 194A @ 10%.
And after deducting TDS, you shall also have to file a Quarterly E-TDS Return.
Happy New Year to you!! :)
Regards,
Devendra Kulkarni
agree with above
Thank u and same to u:)
no not at all
| Originally posted by : Geetha | ||
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loan is taken from bank.. will the tds attracts for interest on loan? |
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No need to deduct tds if loan provider is bank (as per Banking Regulations)
Agree with Devendra
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