TDS on Late Payment Interest Charges
This query is : Resolved
13 July 2011
Hi, we had a contract with our customer to pay the amount before X date else we will charge the Interest @ 20%. if we will assume that the interest on late payment by customer is 2,00,000/-. Is tds appplicable U/S 194A for the same? in this situation there is no service rendered by us??? Is service tax also applicable for the same? Kindly reply with detail. Thanks Naveen Ahlawat
13 July 2011
TDS is applicable under sec 194A
but service tax is not applicable
but service tax is not applicable
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