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Tds deductible on interest paid to customers

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 November 2014 Dear All,

We have Real Estate business, Customers have booked flats in our project. but some of them have cancelled their booking and we have to pay them along with interest.

While paying Interest to them shall we deduct TDS?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 November 2014 yes. you should deduct TDS under section 194A.
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 November 2014 Thank you very much sir
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 November 2014 you are welcome friend....
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