Tds u/s 194a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2015 Dear Sir, Our company has finance car from Kotak Mahindra Prime Limited and paying regularly EMI including Principal Interest. As per Section 194A, Clause 3, sub clause (iii) covering some exceptions where TDS not require to be deducted if the payee is cover from (a) to (f) of sec 194A(3)(iii). My question Is Kotak Mahindra Prime Limted cover in any points (a) to (f), with reason for yes and no answers ? Thanks in advance!!!

CA SONIYA AGARWAL

CA SONIYA AGARWAL (Expert)
Follow

05 January 2015 http://ghalla-bhansali.com/Downloads/No%20TDS%20on%20specified%20payments%20made%20to%20scheduled%20banks.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2015 Not the appropriate answer got yet..

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2015 Dear Soniya, not the appropriate answer u have given.

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2015 Kotak Prime limited is not covered under the exceptions as it is a NBFC. You have to deduct TDS on yearly basis on interest component from your EMI and claim reimbursement from Kotak Prime Limited.