Dought reagrding nbfc loan repayment
This query is : Resolved
05 August 2014
a man took a car loan from nbfc and he uses that car for business purpose,he repay the loan without deducting tds.whether he claim that amount or not in tax audit?
CA SUNIL K GARG
(Expert)
05 August 2014
sir , u have to deduct TDS on intt paid to NBFC on car loan, otherwise the intt will be disallowed u/s 40 (ia)
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Rupesh Jain
(Expert)
06 August 2014
if your business is under the audit u/s 44AB then you have to deduct the TDS @ 194A @ 10% on intt amount otherwise this exp is disallow.
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