DEAR MEMBERS,
GUD MORNING EVERYONE,
PLEASE SOMEONE TELL ME, IF TDS IS REQUIRED TO BE DEDUCTED ON FORECLOSURE CHARGES AND LOAN PROCESSING CHARGES PAID TO NBFC U/S 194J OR ANY OTHER SECTION?
THANKS & REGARDS
CA SUKSHAM ARORA (CA) (569 Points)
26 September 2016DEAR MEMBERS,
GUD MORNING EVERYONE,
PLEASE SOMEONE TELL ME, IF TDS IS REQUIRED TO BE DEDUCTED ON FORECLOSURE CHARGES AND LOAN PROCESSING CHARGES PAID TO NBFC U/S 194J OR ANY OTHER SECTION?
THANKS & REGARDS
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 26 September 2016
CA SUKSHAM ARORA
(CA)
(569 Points)
Replied 26 September 2016
BUT DOES FORECLOSURE CHARGES COME UNDER DEFINATION OF INTEREST AS IT IS PAID TO REPAY LOAN EARLY INSTEAD OF RAISING A LOAN
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 26 September 2016
Pratik Jain
(ARTICLESHIP)
(40 Points)
Replied 16 September 2017
only payment made by individuals and HUF not covered under tax audit need not deduct TDS rest all needs to deuct even if the force closures charges are to be paid to the bank?
please correct me if i am wrong with relevant section
Thanks in Advance
kamal punj
(Accountant)
(30 Points)
Replied 17 February 2018
Sir
My party has charged GST on forcloser charges, If same is interest then why every time they have not charged GST on Interest