08 October 2010
my company is paying interest to GE Contry wide a nbfc now i want to know wether on this transaction liability to deduct tds arises or not
If Interest paid to Non Banking Financial Institute ,then tds liability near about @22.66% . If you can elaborate your question so i can easily give you complete answer
08 October 2010
thanks a lot mam . but mam GE country wide has taken 36 cheques in advance if now company had to deposite the tds the co will we in loss bcoz they have already taken advance cheques of entire amount without deduction of tds . pls do suggest what action to be taken now ?
CAclubindia
