Tag Archives: Section 193

Debenture Interest charged in Profit and Loss A/c but not paid would not attract TDS under Section 193

Held Although the assessee has neither paid nor paid interest to these financial institutions in respect of debentures. However, the liability was provided for, in its account for purpose of compliance of applicable accounting standards and mandatory requirements of Companies Act, 1956. It was, thus, clear no income had accrue to debenture holders, financial institutions.… Read More »