Loan waiver not a benefit, banks exempt from 10% TDS for one-time settlement

CBDT said in a detailed clarification that OTS or loan waiver by a bank will not be treated as a benefit or a perquisite and not face Tax Deducted at Source as they would have to bear the additional cost of tax deduction besides the haircut.

from Banking/Finance-Industry-Economic Times https://ift.tt/2GYIlWo