IS tds to be made on interest payment to UCO bank??
karthiksanker (Assistant Manager-Accounts&Finance) (137 Points)
17 May 2011IS tds to be made on interest payment to UCO bank??
CA. Gurdeep Singh Chawla
(C A)
(7080 Points)
Replied 17 May 2011
No liability of TDS in case of Interest payment to Bank.
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 17 May 2011
Check if UCO BANK IS ESTABLISHMENT UNDER BANK REGULATION OR AS FINNACIAL INSTITUTAION THEN NO NEED TO DEDUCT TDS ON INTEREST PAID TO BANK
Karan Teli
(Life Is just an Illusion...!!)
(4573 Points)
Replied 17 May 2011
banks, RBI, Financial institutions and government entites are not under the purview of TDS provsions so ttax need not be deducted......
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
