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Applicability of tds on lc/ bills discounted

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(Querist)
05 January 2013 Dear Sir

Our bank negotiate our inland LC and charged negotiation charges and interest on usance period

let me know that tds is applicable

also let me know that applicability of TDS on monthly interest charged by bank on working capital limit
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
05 January 2013 No, TDS is not applicable
and for general Q, how can you deduct TDS when you are not paying, they deduct that from you account :)

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