TDS ON HIRE PURCHASE INTEREST
This query is : Resolved
05 May 2008
I NEED TO KNOW WHETHER TDS IS APPICABLE ON INTEREST ON HIRE PURCHASE OF CAR. INTEREST IS PAID TO CHOLAMANDALAM FINANCE PVT LTD.PLEASE QUOTE ME THE SECTION OR CIRCULAR REFERENCE IN THIS REGARD.
05 May 2008
If the interest credited / paid to specified banking companies, financial corporation established by or under a Central, State or Provincial Act, LIC, and such other entities TDS would not be applicable u/s 194A.
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