Tds
This query is : Resolved
shafeek ali
(Querist)
21 July 2012
sir,
we are paying EMI for vehicles purchased rs. 35000/ to tata finance (not a banking company)
are we liable to deduct tax on monthly payment?
can we make deduction on last payments without deducting first payments
we are paying EMI for vehicles purchased rs. 35000/ to tata finance (not a banking company)
are we liable to deduct tax on monthly payment?
can we make deduction on last payments without deducting first payments
CA RICHA BADALIA
(Expert)
21 July 2012
As it is not a banking company TDS is deductible assuming the limit of Rs.10000 P.A. is crossed.
No you cant do that. You have to deduct TDS on entire interest component for the year.
No you cant do that. You have to deduct TDS on entire interest component for the year.
shafeek ali
(Querist)
21 July 2012
thanks madam
finance team told us that they want payment in full without deducting tds, is there any procedure adjust the tds amount.
finance team told us that they want payment in full without deducting tds, is there any procedure adjust the tds amount.
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