TDS
This query is : Resolved
13 July 2009
Whether TDS is to be deducted on interest payments on loans paid to banks and other financial institutions (like Cholamandalam DBS financial services)???
Ratan Sharma
(Expert)
13 July 2009
No interest is to be deducted while payment of interest to bank or financial institutions.
CA Nitin Wadhwani
(Expert)
13 July 2009
But NBFC's are not excluded.
So, interest needs to be deducted on interest payment to NBFC.
In my opinion, CDBS Fin.Ser is a NBFC.
So, interest needs to be deducted on interest payment to NBFC.
In my opinion, CDBS Fin.Ser is a NBFC.
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