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Tds

ARULMURUGAN S (Audit Manager) (35 Points)

13 September 2016

Interest paid to Religare Finvest ltd Rs.720269/-, Magma Fincorp Rs.843365/-, Edelweiss retail finance Rs.596616/- whether the above mentioned transactions are liable to deduct TDS?

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VAIBHAV CHATURVEDI (CA ARTICLE) (143 Points)
Replied 13 September 2016

Yes, u/s 194A @ 10 %

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saurabh kumar (Tax Consultant) (348 Points)
Replied 13 September 2016

No need to deduct tax on interest to be paid to financial corporation u/s 194 A(3) if interest is payable as "interest other than interest on securities".