TDS U/s. 194R - Applicability on One Time Settlement (OTS) transactiions
This query is : Resolved
02 July 2022
Dear Expert,
Could you please provide me some education on the subject with an example....
Thanks & Regards
Could you please provide me some education on the subject with an example....
Thanks & Regards
02 July 2022
One time settlement to whom.
02 July 2022
Dear Sir,
Scenario (example):
a) ABC Bank has given a loan to XYZ Company (domestic company) on 01.06.2000.
b) The loan has became NPA on 31.03.2022.
c) The outstanding amount of the loan as on 30-06-2022 was Rs.10.00 Cr. (Principal of Rs.4.00
Cr. & Interest of Rs.6.00 Cr.).
d) The bank has sanctioned OTS for an amount of Rs.8.00 Cr. on 02.07.22.
Hope I am clear with the above example. I am looking from the perspective of the banker.
Thanks & Regards,
Scenario (example):
a) ABC Bank has given a loan to XYZ Company (domestic company) on 01.06.2000.
b) The loan has became NPA on 31.03.2022.
c) The outstanding amount of the loan as on 30-06-2022 was Rs.10.00 Cr. (Principal of Rs.4.00
Cr. & Interest of Rs.6.00 Cr.).
d) The bank has sanctioned OTS for an amount of Rs.8.00 Cr. on 02.07.22.
Hope I am clear with the above example. I am looking from the perspective of the banker.
Thanks & Regards,
02 July 2022
194R TDS not applicable in such a settlement.
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