Section: 80HHC
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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,