Tds applicability on interest subvention
This query is : Resolved
29 July 2011
Hi all,
Please guide me with regard to payment recieved by financer(NBFC) from manufacturer as interest subvention. Is it liable to TDS, if yes, under Section 194 C / H?
Thanks in advance.
CA Pranav Kumar
Please guide me with regard to payment recieved by financer(NBFC) from manufacturer as interest subvention. Is it liable to TDS, if yes, under Section 194 C / H?
Thanks in advance.
CA Pranav Kumar
29 July 2011
What is interest subvention?
29 July 2011
Interest subvention is the interest subsidy passed on by manufacurer on behalf of consumer to financer.
29 July 2011
There is no such provision for TDS on interest subvention. If it is in nature of commission, then TDS will be deduted u/s 194H. 194C will never come in picture.
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