whether tds is required on interest paid on unsecured loan obtained by a closely held public company from a NBFC , whose EMI are mostly fixed ?
2 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 25 March 2011
TDS have to deduct on interest of private financial company like religare , tata capital ltd. Barclays etc.
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 25 March 2011
Yes TDS has to be deducted from interest portion of EMI paid to NBFC,
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