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TDS applicability on Interest charg by Banks & NBFC

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(Querist)
28 January 2009 Please tell me is there any TDS liability for Private Limited company for interest chrages by bank on Overdraft & loan against Share Facility and also for such type of finance taken from NBFC
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
28 January 2009 In case of Bank Interest on OD/CC A/c No TDs is Applicable.
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HEMAL M JHAVERI

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HEMAL M JHAVERI (Querist)
28 January 2009 Thank You Sir,
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K V Subba Rao

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K V Subba Rao (Expert)
28 January 2009 No requirement for TDS-Refer Para 156 of 29th edition of Singhania's Reackoner

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