HDB FINANCIAL
This query is : Resolved
PRAKASH MENON
(Querist)
28 March 2024
Dear Sir,
On April 2023 we have taken vehicle loan from HDB FINANCIAL SERVICES LTD, Chennai for purchasing trucks. We are paying interest to them on each EMI. I want to know whether we have to deduct TDS on interest from them.
Please clarify the same immediately.
Prakash Menon
Accountant
On April 2023 we have taken vehicle loan from HDB FINANCIAL SERVICES LTD, Chennai for purchasing trucks. We are paying interest to them on each EMI. I want to know whether we have to deduct TDS on interest from them.
Please clarify the same immediately.
Prakash Menon
Accountant
CA R SEETHARAMAN
(Expert)
29 March 2024
You have to deduct TDS on payment to HDB financial services as it's not a bank.
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