Tds on interest on securities paid to banks
This query is : Resolved
19 October 2012
Our Company issued debentures to scheduled banks and paying interest thereon. Whether we have to deduct TDS on this interest U/s 193 of IT Act.
19 October 2012
yes, You can deduct TDS.
Message likes :
1 times
19 October 2012
Section 193 specifies that any Person responsible for paying any Interest on Securities to a Resident is required to Deduct the TDS for interest amount above 5000/except certain exemptions including for any listed Demat Security and also when Interest is paid to a Resident Individual or HUF where the Debentures are issued by a Company in which the Public is substantially interested and interest amount does not exceed Rs.2500(Rs.5000 w.e.f 01/07/2012).In the light of above,TDS in the above case will be required to be Deducted.Regards
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
