TDS 194 to nbfc
shivam bhatia (231 Points)
20 September 2023
Is TDS os required to deduct u/s 194A on payment to NBFC like bajaj Finserv???
5 Replies
shivam bhatia
(231 Points)
Replied 20 September 2023
Individual having turnover 2 crore, paying interest to a NBFC (Bajaj Finserv) of 5 lakh ,
now is he required to deduct TDS u/s194A??
now is he required to deduct TDS u/s194A??
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 22 September 2023
Interest payment to banks and NBFC is exempted from Tds
shivam bhatia
(231 Points)
Replied 22 September 2023
How can I verify about NBFC? banking company specifically written in section but there is nothing about NBFC.
please reply
please reply
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 23 September 2023
NBFC will cover under Financial Institution.
Further query is about under which section you deduct tax ?
Section 194A is applicable only if the payer is bank or financial institution. Is it correct?
Further query is about under which section you deduct tax ?
Section 194A is applicable only if the payer is bank or financial institution. Is it correct?
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