27 April 2014
Assessee purchased and got his new car financed from BMW Financial Services. Will Interest on Loan be liable to TDS? As BMW Financial services is not a financial institution. Please advise.
27 April 2014
Other than individual and Others TDS to be deducted u/s 194A @ 10% if threshold limit of Rs 5000/- is crossed irrespective of Tax Audit applicability.
In case payer is Individual/HUF TDS is to be deducted only if the assessee was covered under Tax Audit during the preceding previous year.
CAclubindia
