Interest paid to finance companies
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2011
I have paid interest to Citi Financial - which is a finance company for a business loan - i have been advised to deduct TDS on the same
Should I do so ?
Also some repayments have been made in cash of interest and principal - what is the effect since I am subject to tax audit provisions
Should I do so ?
Also some repayments have been made in cash of interest and principal - what is the effect since I am subject to tax audit provisions
CA Divyesh Sodha
(Expert)
25 September 2011
TDS on interest t Finance co. is applicable @ 10%.
CA Ayush Agarwal
(Expert)
25 September 2011
You Cant paid Interest in Cash Above 20000.
But Can Pay Principle Amount.
But Can Pay Principle Amount.
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