TDS ON INTEREST

This query is : Resolved 

10 July 2008 SUPPOSE MR. XYZ IS UNDER AUDIT (SECTION 44AB) FOR FY 2007-08. NOW HE TAKES LOAN FROM TATA MOTOR FINANCE (WHICH IS DIVISION OF TATA MOTORS LIMITED)IN APRIL 2008. HE HAS TO PAY 23 EMIs OF RS. 43000 EACH. OBVIOUSLY EMI INCLUDES INTEREST PORTION. IS MR. XYZ LIABLE TO MAKE TDS ON THIS INTEREST PORTION ?

11 July 2008 Payment to Financial corporation is exempt from deduction of TDS on interest.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries