Do we need to deduct TDS on the Interest paid to NBFC's on the Loans taken by a company.
V Senthil Kumar (Manager) (28 Points)
22 September 2008Do we need to deduct TDS on the Interest paid to NBFC's on the Loans taken by a company.
ravi
(Service)
(46 Points)
Replied 22 September 2008
Yes TDS is to be deducted on interest . The NBFC will refund the amount of TDS to the company after receipt of TDS certificate
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961