there is specific exemption u/s 194 a on intrest payment to bank, whether tds is to be deducted if processing fees is paid to bank for grant of any facility u/s 194 J or other section,
if intrest payment is made to individual on loan against house property. whether tds liability is attracted since there is not disallowability provision in house property head
Make sure the bank has exemption cetificate issued u/s 197 of the IT Act.
I agree, there is no disallowance in House property provisions, but read section 271C, penalties imposed for non compliance under chapter XVIIB.
Therefore, tds has to be deducted.
N N V Satish & Co.,
Hyderabad
CA Inter
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Shyam S Gupta and Company
New Delhi
CA Inter
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CCI
Pro
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