Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2014
Sirs -- my client getting finance from a private financial Ltd co.for five years on EMI basis. My client submitted 60 EMI cheques in advance . Client has not deducted TDS as per their knowledge that as per Supreme court , TDS not required in case of payment by EMI . Pl let me know correct position . Thanks . K H Mahajan
21 February 2014
unable to locate any such Supreme Court ruling. I dont think there is any such exemption. The only case the comes to my mind is that of Ashok Leyland which was in nature of Hire purchase sale.
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