Dear All,
Please let me know how much TDS to be deducted from interest portion of EMI paid for loan taken .
waiting for your reply
5 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 24 December 2010
No TDS deduction for Emi paid for loan taken
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 25 December 2010
Pl let me know the section or rule under which no tds is to be deducted from emi.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 25 December 2010
| 194A |
Other Interest
> Aggregate sum exceeding Rs. 10,000 for Banking Co’s , etc.per person during the financial year. > Aggregate sum exceeding Rs. 5,000 per person during the financial yea |
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 25 December 2010
| Originally posted by : U S Sharma | ||
 |
194A Other Interest > Aggregate sum exceeding Rs. 10,000 for Banking Co’s , etc.per person during the financial year. > Aggregate sum exceeding Rs. 5,000 per person during the financial yea |
 |
10%
* If there is no PAN details, then it is 20%. (or at actual, whichever is higher)
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 25 December 2010
OK . If EMI is paid to a banking company, no tds is to be deducted. But where is exemption on TDS on EMI paid to other than Banking cos if the interest involved is more than 5000 during a financial year.
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