milind shirodkar (service) (81 Points)
11 December 2008
milind shirodkar
(service)
(81 Points)
Replied 11 December 2008
WE THE LIMITED COMPANY TAKEN TERM LOAN FROM AXIS BANK LTD. WE HAVE TO PAY PROCESSING FEES FOR SAID LOAN. WHETHER TDS IS APPLICABLE & WHAT IS THE TAX RATE.
CA. Anubhav Jaggi
(CA)
(104 Points)
Replied 11 December 2008
TDS is applicable on Contract u/s194C in your case of printing stationary.
The rate is 2%+Surcharge+Cess.
If payment is made to Corporate assessee,surcharge limit is ! crore.
If payment is made to Individual or Huf, surcharge limit is 10Lakh.
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