tds

Hi, Harshit you need not to deduct tax for payment of interest in case of hire purchase loan as  I think you must not be falling under the category of individual /Huf having turnover as specified u/s 44AB.Contrary to the above you fall with in such category then also you need not to deduct Tds , reason being loan advancing authority must  have been company or co-operative society or banking company . For further details you can refer to section 194A of income tax act . 1961.

Originally posted by : SHASHANK GOYAL
	Hi, Harshit you need not to deduct tax for payment of interest in case of hire purchase loan as  I think you must not be falling under the category of individual /Huf having turnover as specified u/s 44AB.Contrary to the above you fall with in such category then also you need not to deduct Tds , reason being loan advancing authority must  have been company or co-operative society or banking company . For further details you can refer to section 194A of income tax act . 1961.

agreed