23 September 2013
sir our company purchased a car in the month of april 2013 and financed it from a finance company. now my question is that we are liable to deduct T.D.S. or not on interest which is paying by our company.
23 September 2013
dear sir /madam my other query related the same , we are also paying intt. to bank on cc limit , that's the similar way we have to deduct the TDS on the intt. paying to bank. please suggest me the suitable answar
23 September 2013
tds on interest paid to NBFC is liable to deducted . . .generally as emi does not deduct tds,, . . just pay tds from your pocket and file tds return,,and for the amount paid on behalf of nbfc debit their account,, . . after filing tds return submit form 16a to nbfc and claim for this tds amount they wil release payment . . but before confirm with them that they have any nildeduction or lower deduction certificate from assessing officer under section 197
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