TDS on interest paid to bank or financial inst.
This query is : Resolved
23 March 2011
sir,
interest paid to bank is subject to TDS deduction or not
we paid EMI to city bank ever month so Interest include in emi is Subject to TDS dedcution or not
interest paid to bank is subject to TDS deduction or not
we paid EMI to city bank ever month so Interest include in emi is Subject to TDS dedcution or not
23 March 2011
If the amount is paid or credited to a banking company to which the Banking Regulation Act 1949 applies, TDS not required to be deducted.
23 March 2011
The banks covered under banking reggulation Act , then we cannot deduct TDS
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