TDS On Interest

This query is : Resolved

Prakash (Querist)
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05 May 2011 Our company taken a vehicle loan from TATA CAPITAL sum of Rs 1500000/-

Please suggest me that we are liable to TDS DEDUCT on interest for the same.monthly basis. As per our Auditor we should be duduct tds on interest on car loan of TATA CAPITAL

CA Navin Jain

CA Navin Jain (Expert)
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05 May 2011 YES, YOU NEED TO DEDUCT TDS ON INTEREST,

IF U HAVE DEPOSIT PDC WITH TATA CAPITAL, THAN WHEN YOU GIVE TDS CERTIFICATE TO COMPANY, COMPANY WILL ISSUE A CHEQUE FOR THE SAME AMOUNT

Prakash

Prakash (Querist)
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05 May 2011 on ECS OPTION??????

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