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TDS

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(Querist)
29 June 2009 A private bank is charging interest, commission and other charges on certain transactions and deposits.
Are these payments subject to the provisions of TDS.
If Yes, how will it be deducted as Debits are made directly by the bank in our account.
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Ratan Sharma

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Ratan Sharma (Expert)
29 June 2009 Hi Hemant,
TDS not applicable on interest paid to bank loan.
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Hemant Kyal

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Hemant Kyal (Querist)
29 June 2009 Please also tell in the case of commission , brokerage and other charges .
Kindly also quote the section in each of the cases.
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M Prabhakar Menon

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M Prabhakar Menon (Expert)
30 June 2009 S194H does not cover bank commission and brokerage

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