madhur gupta
(student/article )
(1022 Points)
Replied 18 August 2008
yes
t.d.s on interest is applicable to all types of n.b.f.c (non banking financial institutes)
only banking co.r exempt from this
Faisal M
(Consultant)
(40 Points)
Replied 18 August 2008
| Originally posted by :Faisal Merchant | ||
| " | Hi Friends, Is TDS u/s 194A applicable to Interest payments on Vehicle loans paid to Banks & Financial Institutions? |
" |
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 18 August 2008
No
If paid to other persons other than these than it has to be deducted.
venkatesh c
(Audit)
(63 Points)
Replied 18 August 2008
If any interest is paid to Banks and financial institutions, it need not be deducted.
Interest paid to any other person TDS u/s 194A will be attracted
K Rajendra Prasad
(CA)
(133 Points)
Replied 17 September 2008
Hi
194 is applicable even if you use the word Finance Charges. Sundaram Finance is having exemption certificate. Ashok Leyland Finance is now merged with Indus Ind Bank. Hence 194 is not applicable to Ashok Leyland Finance.
Bye
CAclubindia
