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TDS on payment to GIDC

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(Querist)
17 February 2010 Dear Sir,

Our company has paid interest to Gujarat Industrial Development Corporation (GIDC) on account of late payment.

Is TDS applicable on interest paid to GIDC?

Navin Patel
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shrikant

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shrikant (Expert)
17 February 2010 If GIDC is government organisation then no other wise yes
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 February 2010 Agree.If it is Corporation esatablished by or under central act- no need to deduct other wise need to deduct
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