TDS

This query is : Resolved

faizan (Querist)
Follow

23 May 2011 is TDS deductible on payment of Int on overdraft ?????
is TDS deducted on int paid to banks on loans taken????

Amol Gopal Kabra (CA,CS,DISA) (Expert)
Follow

23 May 2011 TDS is not applicable on interest paid by the assessee to banks.

CMA. CS. Sanjay Gupta (Expert)
Follow

23 May 2011 No TDS deduction is required if interest is paid to any banking company to which the Banking Regulation Act 1949 applies.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess