25 August 2012
Mr A is proprietor of A&Co. His business A&Co. is subject to audit u/s 44AB. Mr A purchased a car in his own name by taking loan(in his own name) from a Non-Banking financial institution. He introduced the car in his business i.e A&co. Loan EMI is being paid from business's CC a/c. My query is whether Mr A as an individual liable to deduct TDS on interest being paid on such loan?
CAclubindia
