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TDS on Car Loan EMI

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(Querist)
07 August 2008 I have a client who has purchased a car on loan from Reliance Capital Ltd. Will he require to deduct tax at source on interest component of EMI if it exceeds Rs.10,000/-?
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
07 August 2008 no tds is not to be deducted
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Kunal Mehta

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Kunal Mehta (Querist)
08 August 2008 Thank you for the reply. But can you please tell me the reason for your answer..
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