TDS deduct from interest on term loan

sathishkumar (Accountant) (25 Points)

08 February 2018

I have paid term loan to bank with interest if I can deduct tds for this interest?

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5 Replies

Rishi (NONE) (163 Points)
Replied 08 February 2018

No TDS shall be deducted, where payment is made to banks.

narender rawat (57 Points)
Replied 08 February 2018

No TDS deducted when you are paid interest to any financial institution.

sathishkumar (Accountant) (25 Points)
Replied 08 February 2018

what is the reason?

Karan (employee) (30 Points)
Replied 08 February 2018

Payment made ro banks is not liable to TDS

sathishkumar (Accountant) (25 Points)
Replied 08 February 2018

if it is NBFS i can deduct TDS

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