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Applicability of tds on working capital limit sanction

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2013 Dear Sir

Our Bank renewed on credit limits every year and charged processing fee from us

let me know that TDS is applicable on Bank charges or not
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
05 January 2013 Dear Friend, TDS is applicable on interest paid to the banks and not on processing fees or renewal charges. Thanks

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