TDS On Interest of Private Bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2010
Our company status is PVT.LTD. and we have take the Business Loan from Financial Institutions (Private Non-Banking).Pls advise the below :-
1. If the TDS is Applicable on Interest Payment .
2. Then What will be TDS Deduction rate Applicable
1. If the TDS is Applicable on Interest Payment .
2. Then What will be TDS Deduction rate Applicable
14 August 2010
TDS is not to be deducted at the time of making interest payment to banks on loans.
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14 August 2010
No TDS deduction is required If the amount is paid or credited to A banking company to which the Banking Regulation Act 1949 applies.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2010
if Bank Non Banking Company
14 August 2010
Then TDS to be deducted u/s 194A @ 10%
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