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
JOSEPH DAVID (GM FINANCE) (286 Points)
06 February 2009SBI 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
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 06 February 2009
No TDS. No such provision of TDS on Processing fees charged by Bank on loan sanctioned.
JOSEPH DAVID
(GM FINANCE)
(286 Points)
Replied 07 February 2009
| Originally posted by :CA. ASHOK SHAH | ||
| " |
-still tds need not be deducted- regards joseph |
" |
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