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Section-194a

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(Querist)
28 December 2011 Whether finance charges debited by supplier for late payment of bill be considered as interest?.And whether the party is liable to deduct tax on such finance charges u/s 194A?.Are there any case laws related to this?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 December 2011 Yes TDS deductible u/s 194A.
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Rashmi Ranjan Patra

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Rashmi Ranjan Patra (Expert)
29 December 2011 yes TDS is deductible
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