Interest paid to finance companies

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 September 2011 I have paid interest to Citi Financial - which is a finance company for a business loan - i have been advised to deduct TDS on the same

Should I do so ?

Also some repayments have been made in cash of interest and principal - what is the effect since I am subject to tax audit provisions

25 September 2011 TDS on interest t Finance co. is applicable @ 10%.

25 September 2011 You Cant paid Interest in Cash Above 20000.
But Can Pay Principle Amount.




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