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Tds deduction on interest on loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2014 Should I Deduct TDS on Interest paid to (NBFC) Non Banking Financial Institutions?

Please provide any case law or valid justification.
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Sandeep Dharar

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Sandeep Dharar (Expert)
26 June 2014 No TDS should b deducted on payment to BAnks and Financial institutions.
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
26 June 2014 You are required to deduct TDS on interest paid to NBFC

Sh.Umesh Trehan, Vs. The Income Tax Officer, SCO 9-A, Ward 1(3), Sector 7-C, Chandigarh Chandigarh.



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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
26 June 2014 @ sandeep dharar

pls correct it as Public Financial Institution

it does not include Private Finance Co's

so TDS is required
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Rupesh Jain

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Rupesh Jain (Expert)
26 June 2014 intt paid to NBFC will be liable to deduct tds u/s 194A @ 10% if having PAN otherwise @ 20%.

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