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amit shah (Querist)
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12 September 2013 tds on nbfc detail

Ganeshbabu K

Ganeshbabu K (Expert)
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13 September 2013 1)TDS is applicable on interest paid to NBFC.

2)generally it will not get deducted at the time of EMI payment..

3)you need to pay TDS from your pocket and then after filing TDS return if you provide FORM16A for TDS paid on interest paid to NBFC they will pay you back the TDS money..this is what generally goes in case of NBFC tds settlement

4)just debit the NBFC account for the tds paid and as and when you collected money from them credit their account

Thanks & regards
Ganesh babu k

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