Tds

Lakshmi Muralidharan (Student) (119 Points)

06 January 2015  

Should an individual who is assessable to income tax u/s 44AE liable to deduct TDS u/s 194A for payment of interest to NBFC. Even though the turnover exceeds 1 crore during the year the assessee is not liable for tax audit as number of trucks is less than 10.

Question is whether the assessee should deduct tax at source for interest payments to NBFCs?