Does TDS need to be deducted for payment of interest to a company which is a subsidiary of Banking Company??
To be very specific does TDS need to be deducted for payment of interest to Kotak Mahindra Prime Ltd??
Thanks in advance
Vishal Jain A (Practicing CA) (941 Points)
02 July 2010Does TDS need to be deducted for payment of interest to a company which is a subsidiary of Banking Company??
To be very specific does TDS need to be deducted for payment of interest to Kotak Mahindra Prime Ltd??
Thanks in advance
CA VINAY BANSAL
(In job with KPMG)
(289 Points)
Replied 02 July 2010
ya.
If the interest made by the holding KOTAK is exceeding Rs 10,000, TDS to be made.
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