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Deduction of tds (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
16 July 2012

 is interest paid on loan for commercial vehicle to NBFC liable to deduction of TDS?


neeraj

( Expert )
16 July 2012

 I think , no need to deduct TDS on intt paid on loan from any bank or financial institution.


Suresh Mittal

( Expert )
16 July 2012

 The TDS is to be deducted as its interest payment to Non Banking Finance Co. and not to Bank



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