I want to know whether TDS is to be deducted if payment of interest Rs.50000 to Bajaj Finance,Shriram Finance,Sundaram Finance,Mahindra Finance Ltd,India Bulls Finance ,etc same type of finance companies on loan taken under section 194A.?
7 Replies
CA Mohit Agrawal
(Chartered Accountant)
(371 Points)
Replied 03 February 2011
few more view are invited please
VENKATA RATNAM NUNNA
(SAP Consultant)
(50 Points)
Replied 03 February 2011
Yes, TDS must be deducted for the above Institutions.
Only Bank are exempted from TDS but not Financial Institutions unless it is notified by Central Govt.
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 03 February 2011
Tax should be deducted at source on interest payments to the companies which you have mentioned.
AKSHAY PAL
(ARTICLE)
(88 Points)
Replied 04 February 2011
Yes TDS Should Be Deducted on These company..........
CA.Rakesh Kataria
(CA )
(291 Points)
Replied 28 March 2011
yes tds should be deducted unless exemted
AKSHAY PAL
(ARTICLE)
(88 Points)
Replied 29 March 2011
Yes
TDS should be deducted on these companies
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