Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2015
hai experts
if tds is not deducted on interest on loans from financial institues it is disallowed u/s 40a(i) and what about car loan n housing loan and as per which section is tds deductible and explain each and every provision attached to it in income tax act as i am consufed
thanks in advance
if tds is not deducted on interest on loans from financial institues it is disallowed u/s 40a(i) and what about car loan n housing loan and as per which section is tds deductible and explain each and every provision attached to it in income tax act as i am consufed
thanks in advance
06 January 2015
If you are paying interest on laons taken from banks then you don't need to deduct TDS on such interest under section 194A. in that case provision of section 40a(1a) will not applicable at all.
However if loans are repaid along with interest to person other than bank like NBFCs etc. then in that case only section 40a(1a) will applicable.
However if loans are repaid along with interest to person other than bank like NBFCs etc. then in that case only section 40a(1a) will applicable.
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