tds on processing fees

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SBI factors and commercial services (P) Ltd has sanctioned export factoring facility to our company. They have levied processing fees of Rs.3 lakhs.

Is it necessary to deduct TDS and if it is so under what section

regards

joseph david

 

Replies (2)

No TDS. No such provision of TDS on Processing fees charged by Bank on loan sanctioned.

Originally posted by :CA. ASHOK SHAH
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Sbi factors and commercial services (P) ltd is  a private ltd company  and a subsidiary of sbi

-still tds need not be deducted-

regards

joseph




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No TDS. No such provision of TDS on Processing fees charged by Bank on loan sanctioned.
 

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CCI Pro

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