I have Recieved a loan from TIIC (TamilNadu Industrial Investment Company) @ 1.25 Crore and Paying Monthly Installment (Int @ 14.75%)
Is TDS on Interest is Applicable for Paying of Interest?
Pavan Nagasuri (Student CA Final ) (161 Points)
16 June 2015
I have Recieved a loan from TIIC (TamilNadu Industrial Investment Company) @ 1.25 Crore and Paying Monthly Installment (Int @ 14.75%)
Is TDS on Interest is Applicable for Paying of Interest?
ARUL PRADEEP
(ARTICLE ASSISSTANT)
(175 Points)
Replied 16 June 2015
Any interest on loan amount paid to Public finance institution which is engaged in the banking Business will be out of TDS bracket..
So no TDS has to be deducted.....
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