https://www.taxtmi.com/highlights?id=66693 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 en-us Tue, 22 Nov 2022 16:26:53 +0530 Tue, 22 Nov 2022 16:26:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=66693 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 Highlights Income Tax Tue, 22 Nov 2022 16:26:53 +0530 https://www.taxtmi.com/highlights?id=66693