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?
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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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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