TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges ...

Discounting Charges in Sale to SBI Global Factors Not "Interest" Under IT Act, No TDS or Additions Required.

November 22, 2022

Case Laws Income Tax AT

TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges - In the nature of interest or not - The transaction entered into by the assessee is with M/s SBI Global Factors Ltd is only a discounted sale consideration arising out of debts purchased by M/s SBI Global Factors Ltd from the assessee. This does not extend to the nature of debt thereby establishing that discounting / factoring charges are not in the nature of “interest” as defined in section 2(28A) - AT

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TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges ...

Discounting Charges in Sale to SBI Global Factors Not "Interest" Under IT Act, No TDS or Additions Required.

November 22, 2022

Case Laws Income Tax AT

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