Applicability of tds on car loan
This query is : Resolved
29 January 2016
Dear Sir,
Will TDS be deducted on Interest paid to BMW Financial Services for Car Loan.
We have a partnership firm under audit. We have taken a BMW Car on loan from BMW Financial Services in the name of firm.
We are paying EMI. Kindly confirm me that TDS will be deducted the amount of Interest paid on loan u/s 194 A.
Will TDS be deducted on Interest paid to BMW Financial Services for Car Loan.
We have a partnership firm under audit. We have taken a BMW Car on loan from BMW Financial Services in the name of firm.
We are paying EMI. Kindly confirm me that TDS will be deducted the amount of Interest paid on loan u/s 194 A.
29 January 2016
Yes TDS Applicable under section 194A
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