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Tds applicability on delay payment charges

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(Querist)
14 October 2014 Dear Experts,

Please advice we are paid Delay payment charges to our creditor/ vendor for delay payment to their outstanding. Whether TDS attract to this transaction.

Regd,
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@VaibhavJ

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@VaibhavJ (Expert)
14 October 2014 If payment is explicitly made towards late payment charges then TDS is not applicable the same.

Thanks

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