Whether provisions of Sec. 194A will be applicable on Bill discounting & Factoring charges?
3 Replies
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 11 September 2008
Discounting charges paid to financiers in relation to moneys borrowed through bills was interest within the meaning of section 2(28A) hence liable to TDS under section 194A.
ITO vs. Kanha Vanaspati Ltd. (2007) 108 TTJ 816 (Delhi)
Shyam Murarka
(CA)
(102 Points)
Replied 11 September 2008
thanx,,,,but can u provide me with the link , where i can view this case..i have tried thru taxexpert CD,,but can't get the judgement as provided by you//
Naveen
(B.COM, CA Final)
(468 Points)
Replied 02 March 2010
Can any body provide me favourable case laws regarding this
Please...............
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