TDS
This query is : Resolved
14 February 2020
A company is paying processing fees to Exim Bank. Is TDS applicable on the same?
14 February 2020
TDS should be deducted by resident on Payment of processing fee to financial institutions which are not Governed by Banking Regulation Act. In case payment is to a BANK same is Exempt.
so in your case tds not to be deducted.
so in your case tds not to be deducted.
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14 February 2020
Thanks a lot Sir. But is Exim bank also governed by Banking Regulation Act?
14 February 2020
Export–Import Bank of India is a finance institution in India, established in 1982.
also get knowledge from the employee for your query
also get knowledge from the employee for your query
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