TDS on Processing Fees

[Ramawatar Joshi]

Dear Professional Colleagues

Whether TDS is applicable on Loan Processing Fees paid to Non Banking Finance Company and Bank for loan taken? If yes, under which Section 194J or 194A ? Only TDS not applicable on Interest paid to Bank in view of the provision of Section 194A(3)(iii).

Thanks 

 

CA R. A. JOSHI
AWATAR JOSHI & CO.
Chartered Accountants
Room # 16, 4th Floor,
23A, Netaji Subhas Road,
Kolkata - 700 001
Phone : (033)2230 0365 
                     4005 6512