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.source https://economictimes.indiatimes.com/industry/banking/finance/banking/loan-waiver-not-a-benefit-banks-exempt-from-10-tds-for-one-time-settlement/articleshow/94185009.cms
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