06 October 2015
I want to know whether Sundaram Finance Limited is banking company for the purpose of deduction of tax at source under section 194A on payment of interest
06 October 2015
It is NBFC and TDS is applicable if interest exceeds Rs. 5,000/-. However, Individual and HUF (other than those covered u/s 44AB) are out of the purview of this section.
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