Hy All,
recently we purchased a motor vehicle for busniess use on loan of 600k .. from mahindra finance
We are paying installment.
Are we eligible to deduct TDs on installment?
My Question
Yes
5 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 07 November 2021
TDS is not required to be deducted on payment of interest (or any other service fee) if the payment is made to some Public financial Institutions, however need to comply with the TDS provisions under section 194A if payment is made to mahindra finance.
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