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TDS on Bill Discounting

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(Querist)
04 September 2010 Mr. A gets his bill discounted from Citibank, Whether Mr. A is liable to deduct TDS on the interest ie. on discounting the bill. My next question is whether Citibank is counted as a bank or like a pvt. financial institution?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 September 2010 On bank interest No need to deduct TDS & Citi Bank is considered as Bank only

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