DEDUCTION OF TDS

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..... DEDUCTION OF TDS
Query (Issue) Started By: - S.C. WADHWA Dated:- 2-12-2014 Last Reply Date:- 15-1-2016 Income Tax
Got 1 Reply
Income Tax
34 A Pvt. Ltd. Co. is in course of taking loan f .....

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..... rom a finance company named B. As per sanction letter B will charge 2% of loan amount as processing fees. When I required the mangement to deduct tds .....

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..... on payment of such processing fees, it claimed that they were making full payment to B without deduction of tds since B will make repayment of same. .....

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..... Whether it is permitted in law to make payment to B without deduction of tds on saying that B will make repayment of same to A. Please clarify on wh .....

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..... ich ground it is permissible. If B will make repayment of same, then why it is mentioned in sanction letter that it will charge loan processing fee @ 2&# .....

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..... 37;. If you are of opinion that tds should not be deducted, please clarify in which head payment should be booked in books of A at time of making payment. .....

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..... Reply By MARIAPPAN GOVINDARAJAN: The Reply: Whether you have got clarified in the above issue? If not please inform.
Discussion Forum - Knowledge Sharing .....

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