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tds

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(Querist)
03 August 2010 is tds applicable on interest on OVER DRAFT & CC Limit. if yes why or if no why
answer with reason please.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 August 2010 No need to deduct Income tax by virtue of section 194A(3)(iii)(a).
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 August 2010 No TDS to be deducted on payment made to banks as per section 194A(3)(iii)(a).
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