do i have to deduct tax on payment made of interest to Standard Charted Bank for a loan taken for business purpose
CA Ankit Bhutoria (CA ) (372 Points)
15 February 2010do i have to deduct tax on payment made of interest to Standard Charted Bank for a loan taken for business purpose
Pavan Jain S
(Chartered Accountant)
(1575 Points)
Replied 15 February 2010
no. there is a exception to that in 194A
CA Atul Singhal
(prop)
(450 Points)
Replied 15 February 2010
No tax shall be deducted at source on payment made to any bank or CG or SG.
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
