Dear All
Please Suggest me for TDS deduct from interest on Loan Taken from HDFC Bank which is NBFC or Not
TDS deducted Interest on Loan for NBFC Financial CO.LTD.
CA Kumar Mukesh
(CA CMA FINAL and Advance Excel Trainer)
(6876 Points)
Replied 20 August 2013
Please read your loan documents properly. In most of cases Banks are normally creates separate entaties (NBFC) to deals with Loans/Advances Transaction.
If Loans are offered by NBFC then TDS required to be deducted on Interest payment, Since NBFCs are not covered under Section 196
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