TDS u/s 194A - TDS on subvention interest - A close reading of ...

Case Laws Income Tax

January 7, 2023

TDS u/s 194A - TDS on subvention interest - A close reading of the provisions of section 2(28A) would make it clear that to call an amount received as interest at least one of the conditions should be satisfied that the amount has been received as due on account of any money either borrowed or debt incurred. In the given case money is borrowed by the buyer when IHFL extended to the housing loan to the buyer. Therefore there can be no dispute that the payments made are in the nature of income by way of interest and would attract the provisions of section 194A. - AT

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TDS u/s 194A - TDS on subvention interest - A close reading of ...

Case Laws Income Tax

January 7, 2023

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