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Should tds be deducted on bajaj loan processing

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Lucky A

Manager

55 Points Posted on 26 August 2011

Respected Sir(s),

Kindly let me know that should I have to pay the TDS on Processing Fees of Bajaj Finserve Ltd. which is a non-banking institution. I have paid the TDS on the interest but now my CA is asking me to pay for the TDS on processing fees but the Bajaj Finserve says that they will not refund the TDS on Processing Fees.

Please guide me what should I do.

Thanking You,

Replies (1)

TRILOCHAN

SENIOR ACCOUNTANT

448 Points Posted on 26 August 2011

Yes you should deduct the TDS on processing fees under Section 194A , and deposit the same and provide the TDS certificate and obtain the refund from bajaj finserv.

I have deducted and get the refund from them.

regards

TRILOCHAN