TDS ON PROCESSING FEES ON LOAN FROM NBFC CO.

TDS / TCS 4852 views 10 replies

Sir,

pls tell me , i have taken a loan of rs.10 crore from india bulls financial services ltd. on which i have paid rs.22 lakh as processing fees.

pls tell me the above processing fees is attract to tds, if yes then under what section

waiting for ur reply

thanks a lot

trillochan

Replies (10)

 THERE IS NO APLLCABILITY OF TDS IN THIS CASE

Yupp no tds applicable.

yes, it is attract to tds

processing fees (specific service) comes under section 194J (Tds on Professional fees) i.s 11.33% but  in your case payment is less than 1 crores tds will be 10.30% (surcharge not applicable)

It's not liable for TDS.

no TDS

Dear Chentan 

can you explain why

This is not covered in the explanation given in Section 194J w.r.t. professional services.  Whether would fall U/s.194C??

 

But I am sure that interest paid to them will be liable for tax deduction U/s.194A.

MR SACHIN IS RIGHT. U/S 194J , We'll treat payment as expenses and also the payment made to professional.

In my opinion,processing fee form part of consultancy services so attracts to TDS u/s 194J.

yes tds is attraced us 194A as interest . section 2 (28A) has defined  interest includes fprocessing charges


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details