Regarding TDS Deduction required on Commercial Vehicle Loan used for business by proprietor
This query is : Resolved
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Francis George
(Querist)
17 August 2023
Hello, Could anyone please help me on the below query
A proprietor took a loan for Commercial Vehicle Loan for business use from Cholamandalam Investment & Finance Co. Ltd. Yearly the interest happens to be around Rs.74912/-
Should we deduct TDS on the Interest paid to Cholamandalam?
A proprietor took a loan for Commercial Vehicle Loan for business use from Cholamandalam Investment & Finance Co. Ltd. Yearly the interest happens to be around Rs.74912/-
Should we deduct TDS on the Interest paid to Cholamandalam?
CA R SEETHARAMAN
(Expert)
18 August 2023
Yes, deduct TDS on the payment.
Francis George
(Querist)
18 August 2023
Ok Sir, Thank You very much
CA R SEETHARAMAN
(Expert)
18 August 2023
You are welcome...
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