TDS on Processing Charges

RAJU (LEARNER) (1089 Points)

20 May 2010

Dear Members,

Would like to know whether tax needs to be deducted for payments made to Banks/Finance Companies towards Loan processing Charges?

Thanks in advance

Dharmaraju

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4 Replies

Jagdish Bhalia (Practicing CA) (453 Points)
Replied 20 May 2010

No, Tds would not be deducted

RAJU (LEARNER) (1089 Points)
Replied 20 May 2010

Dear Sir,

Can you please elaborate as to why the payment will not fall under the provisions of Section 194C?

CA. Gurdeep Singh Chawla (C A) (7080 Points)
Replied 20 May 2010

Rachit (Analyst) (913 Points)
Replied 20 May 2010

Originally posted by : CA. Gurdeep Singh Chawala
	NO

Can you please elaborate as to why the payment will not be subjected to TDS?

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