Tds deduction on interest paid
This query is : Resolved
Yajuvendra Rawat
(Querist)
24 April 2014
Dear Sirs & Friends,
Our company has bought a property on loan from a banking institution, Is it ok if i deduct TDS while making payment on its EMI, Only Interest will be considered for TDS deduction, Please let me know if it is wrong
Best Regards,
Yajuvendra Rawat
Our company has bought a property on loan from a banking institution, Is it ok if i deduct TDS while making payment on its EMI, Only Interest will be considered for TDS deduction, Please let me know if it is wrong
Best Regards,
Yajuvendra Rawat
Nikhil Kaushik
(Expert)
24 April 2014
no tds is to be deducted on emi paid to a bank.
CA Jitender Sharma
(Expert)
25 April 2014
Dear RAWAT,
Mr. Nikhil is correct. Your case is covered u/s 194A.
section 194A excludes banking company.
hence you need not to deduct TDS
Mr. Nikhil is correct. Your case is covered u/s 194A.
section 194A excludes banking company.
hence you need not to deduct TDS
Yajuvendra Rawat
(Querist)
28 April 2014
Thanks for your valuable suggestion
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