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  • Aug 05, 2022
  • TDS on large loan waivers likely to go

    Soon, banks are likely to get relief from a new tax rule that effectively mandates them to deduct a 10% tax at source on the amount of debt waived by them through one-time-settlement (OTS) or some other schemes, especially involving large accounts.

    “The departments of revenue and financial services are in talks and a positive resolution of this issue is expected soon,” a senior finance ministry official told FE.