Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2012 A non-executive director of Limited Company, is claiming reimbursement of vehicle expenses without submitting any bill. The said bill includes, EMI paid to a NBFC. Would the reimbursement be subjected to TDS & under whch section? Is it necessary to segregate the EMI in the bill amount & deduct TDS u/s 194A on the interest element considered in EMI paid to NBFC? Pl. reply suitably

Ki$hor B

Ki$hor B (Expert)
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06 June 2012 Payments made to NBFCs are not subject to TDS.

Any reimbursements made do not attract TDS.

In your case, TDS is not appilcable.