Tds applicability
This query is : Resolved
mukund munde
(Querist)
03 May 2017
Dear Sir,
I Have taken loan from various bank and Non Banking Financial institution and also paid more than 25 Lakh Interest All amount of loan used for purchase of Agricultural land, weather compulsory deduct TDS on which interest paid to NBFC, I am under Audit and Also i am taken TAN No,
I Have taken loan from various bank and Non Banking Financial institution and also paid more than 25 Lakh Interest All amount of loan used for purchase of Agricultural land, weather compulsory deduct TDS on which interest paid to NBFC, I am under Audit and Also i am taken TAN No,
04 May 2017
Yes TDS is required to be deducted on interest paid to NBFC since your are under audit.
05 May 2017
Yes, you have to deduct TDS in interest paid to NBFC. However, no tds on interest paid to Banking institutions.
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