Loan on credit card - interest
This query is : Resolved
18 April 2012
Hi Experts,
Could you please let me know Loan on credit card interest will be tax deductible.
Thank you,
Lakshmipathi
Could you please let me know Loan on credit card interest will be tax deductible.
Thank you,
Lakshmipathi
18 April 2012
In case the loan has been taken for the purpose of a business, then only the question of TDS on Interest arises.
.
However, Credit Cards are generally issued by a Banking Co. Interest payments to a Banking Co. does not attract TDS Provision of Section 194A.
.
.
However, Credit Cards are generally issued by a Banking Co. Interest payments to a Banking Co. does not attract TDS Provision of Section 194A.
.
19 April 2012
Hi Sir,
Thank you :)
Thank you :)
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