T d s
This query is : Resolved
Sandeep Kumar
(Querist)
23 September 2013
sir
our company purchased a car in the month of april 2013 and financed it from a finance company. now my question is that we are liable to deduct T.D.S. or not on interest which is paying by our company.
our company purchased a car in the month of april 2013 and financed it from a finance company. now my question is that we are liable to deduct T.D.S. or not on interest which is paying by our company.
CA Parul Saxena
(Expert)
23 September 2013
yes tds is to be deducted.....
Sandeep Kumar
(Querist)
23 September 2013
dear sir /madam
my other query related the same , we are also paying intt. to bank on cc limit , that's the similar way we have to deduct the TDS on the intt. paying to bank. please suggest me the suitable answar
my other query related the same , we are also paying intt. to bank on cc limit , that's the similar way we have to deduct the TDS on the intt. paying to bank. please suggest me the suitable answar
Nikhil Kaushik
(Expert)
23 September 2013
Dear Manav,
The TDS in the said case has to be deducted unless the payee is covered under 194A(3)(iii)(b)
The TDS in the said case has to be deducted unless the payee is covered under 194A(3)(iii)(b)
CA Parul Saxena
(Expert)
23 September 2013
TDS is not to be deducted on interest paid to bank
Nikhil Kaushik
(Expert)
23 September 2013
Dear Manav,
Payments to bank are exempted under 194A(3)(iii)(a)
Payments to bank are exempted under 194A(3)(iii)(a)
Ganeshbabu K
(Expert)
23 September 2013
tds on interest paid to NBFC is liable to deducted
.
.
.generally as emi does not deduct tds,,
.
.
just pay tds from your pocket and file tds return,,and for the amount paid on behalf of nbfc debit their account,,
.
.
after filing tds return submit form 16a to nbfc and claim for this tds amount they wil release payment
.
.
but before confirm with them that they have any nildeduction or lower deduction certificate from assessing officer under section 197
.
.
.generally as emi does not deduct tds,,
.
.
just pay tds from your pocket and file tds return,,and for the amount paid on behalf of nbfc debit their account,,
.
.
after filing tds return submit form 16a to nbfc and claim for this tds amount they wil release payment
.
.
but before confirm with them that they have any nildeduction or lower deduction certificate from assessing officer under section 197
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