Tds on car emi
This query is : Resolved
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?
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?
25 August 2012
as an individual he don't have any right to deduct tds on interest paid on such loan..
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