21 January 2014
Query ---- my client ,got the car for office use financed by Chola Mandal - a finnancier . They issued the cheque in favour of car dealer and ask my client to give them 36 post dated cheques for due and payable every month . My client issued 36 cheques of equal amount i.e. for 25000/- . Whether TDS was required in this case. If yes , how TDS will be deducted , when financier wanted 36 cheques of 25000/-. Was it not the duty of financier to prepare schedule of EMI after deduction of TDS. Pl guide , matter most urgent.
CAclubindia
