TDs on loan taken

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254 Points Posted on 15 December 2020
if a college has taken a loan from bank for the interest paid whether we have to deduct TDs....
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On 15 December 2020 at 21:04 Report
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This discussion clarifies whether Tax Deducted at Source (TDS) needs to be applied to interest paid on loans taken from banks. Generally, TDS is not applicable on interest paid to banks or government bodies. This means colleges or other entities making such interest payments do not typically need to deduct TDS.

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Accountant
3662 Points Posted on 15 December 2020
TDS is not applicable if Loan taken from Bank
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On 15 December 2020 at 21:37
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Tax consultant
5895 Points Posted on 16 December 2020
No tds which you paying to bank or government body
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On 16 December 2020 at 00:46

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