Section: 194A
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When Tax Is Required To Be Deducted On Interest?
S. 2(28A) defines – Interest. “Interest” means interest payable in any manner in respect of any moneys borrowed or debt incurred (including deposit, claim or other similar right or obligation) and includes any service fee or
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Whether TDS Is Applicable On Bill Discounting Charges?
CBDT Cir.No. 65{F. No. 275/79/TTJ] dt. 2/9/71. “Where the supplier of goods makes over the usance bill/hundi to his bank which discounts the same and credits the net amount to the supplier’s A/c. straightway without waiting for realization of the bill on due date,
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Can Interest Be Paid By A Co-operative Bank To Other Co-operative Society Without TDS?
Section 194A(1) of the Income tax Act, 1961 provides “Any person, not being an Individual or a Hindu Undivided Family, who is re-sponsible for paying to a resident any income by way of interest other than in-come by way of interest on securities shall at any time of credit of such income
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Whether TDS U/s. 194A Is Deductible On Payment Of Credit Card?
S. 2(28)(a) defines ‘interest means interest payable in any manner in respect of any moneys borrowed or debt incurred (including a deposit, claim or other similar right or obligation) and includes any service fee
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Whether Advocate Is Liable For TDS On Interest Payment?
1. Section 194(C) provides that no individual or HUF shall be liable to TDS on the sum credited or paid to the account of the contractor where such sum is credited or paid exclusively for personal purpose of such individual or any member of HUF.