Tds deduction on interest on loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2014
Should I Deduct TDS on Interest paid to (NBFC) Non Banking Financial Institutions?
Please provide any case law or valid justification.
Please provide any case law or valid justification.
26 June 2014
No TDS should b deducted on payment to BAnks and Financial institutions.
26 June 2014
You are required to deduct TDS on interest paid to NBFC
Sh.Umesh Trehan, Vs. The Income Tax Officer, SCO 9-A, Ward 1(3), Sector 7-C, Chandigarh Chandigarh.
Sh.Umesh Trehan, Vs. The Income Tax Officer, SCO 9-A, Ward 1(3), Sector 7-C, Chandigarh Chandigarh.
26 June 2014
@ sandeep dharar
pls correct it as Public Financial Institution
it does not include Private Finance Co's
so TDS is required
pls correct it as Public Financial Institution
it does not include Private Finance Co's
so TDS is required
26 June 2014
intt paid to NBFC will be liable to deduct tds u/s 194A @ 10% if having PAN otherwise @ 20%.
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