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Interest on car loan

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(Querist)
03 March 2012 Dear Sir,

I have bought new car in apr-2011 on director name book in his compnay & they paid loan instal ment with interest to bank than our liability to deduct tds from interest amount
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CA Sameer Valia

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CA Sameer Valia (Expert)
03 March 2012 Hi,

The provisions of TDS does not require any tax deduction for interest paid to banks and financial institutions.

Regards

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