Tds on interest to financers
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 January 2015
Please tell me wheather TDS is deductible on interest paid to Private Financers like Choromandalam Finance or Bajaj Finance?
10 January 2015
Yes TDS required to be deducted u/s 194A.
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 January 2015
can yo give me notification number please
15 January 2015
There is no notification. Payment is covered u/s 194A and therefore TDS should be deducted.
18 January 2015
Yes.CS Sanjay Gupta is right.You should make TDS of NBFC interest also.But there is a practice in the market that the TDS paid by you is being reimbursed by the finance companies as they take all EMI s without TDS.So negotiate with them.
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