Tds
This query is : Resolved
22 November 2013
Whether exemption from TDS U/s 194 a(3)shall be available to MAGMA fincorp Ltd. or not, if the customer is paying instalment of car loan
22 November 2013
Magma Fincorp is not covered. TDS is applicable.
23 November 2013
dera nikhil , can you please tell me the clause under which exemption is not given to magma , so that i can have a look. beacuse in the website of RESERVE BANK OF INDIA , ASSET FINANCE COMPANY IS A FINANCIAL INSTITUTION. and exemption is given to financial corporations in the said law
23 November 2013
Dear Rahul,
The entities exempted are covered under the section itself. Any organization not covered therein are not exempted. FYI NBFCs are not covered.
The entities exempted are covered under the section itself. Any organization not covered therein are not exempted. FYI NBFCs are not covered.
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