Applicability of tds on car loan
This query is : Resolved
29 January 2016
Dear Sir,
Will TDS be deducted on Interest paid to BMW Financial Services for Car Loan.
We have a partnership firm under audit. We have taken a BMW Car on loan from BMW Financial Services in the name of firm.
We are paying EMI. Kindly confirm me that TDS will be deducted the amount of Interest paid on loan u/s 194 A.
Will TDS be deducted on Interest paid to BMW Financial Services for Car Loan.
We have a partnership firm under audit. We have taken a BMW Car on loan from BMW Financial Services in the name of firm.
We are paying EMI. Kindly confirm me that TDS will be deducted the amount of Interest paid on loan u/s 194 A.
29 January 2016
Yes TDS Applicable under section 194A
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
