When a govt. company (A Ltd) is paying interest to the government for the loan taken by A Ltd, then should A Ltd, Deduct Tax at Source on the interest payment made by the company (A Ltd)?... Please support your answers... very urgent.....
Yeshwanth (Chartered Accountant) (145 Points)
26 July 2010When a govt. company (A Ltd) is paying interest to the government for the loan taken by A Ltd, then should A Ltd, Deduct Tax at Source on the interest payment made by the company (A Ltd)?... Please support your answers... very urgent.....
N KRISHNA CHAITANYA
(CA Student)
(101 Points)
Replied 26 July 2010
Pls once again ask question with clarity. if you pay interest to either Govt. Of. India, or any other state Govt. There is no need to deduct tax.
N KRISHNA CHAITANYA
(CA Student)
(101 Points)
Replied 26 July 2010
Any Payments made to State Governments or to Central Government there is no need to Deduct tax at source.
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