Does the Tds deduction applicable on intrest on vehicle loan? Is it possible to compute the same on basis of Old income tax slab
Rahul Nair P (1 Points)
02 April 2024Does the Tds deduction applicable on intrest on vehicle loan? Is it possible to compute the same on basis of Old income tax slab
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 02 April 2024
Interest payable by banks is prone to tds. But not your interest payable. Interest paid by friends or relatives is prone to 5% but not vehicle loan. Tds is applicable on purchases above 50 lakhs worth goods only
sabyasachi mukherjee
(26345 Points)
Replied 02 April 2024
NARENDRA
(ACCOUNTS MANAGER)
(1591 Points)
Replied 03 April 2024
If it is not a Bank .....you should deduct tds on paying interest against Vehicle Loan
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 03 April 2024
@ Naredra under what section please
NARENDRA
(ACCOUNTS MANAGER)
(1591 Points)
Replied 03 April 2024
| Originally posted by : Yasaswi Gomes new | ||
 |
@ Naredra under what section please |  |
Same, 94 A
CA Raj Doshi
(Practising CA)
(8820 Points)
Replied 06 April 2024
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