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TDS - EMI INTEREST

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(Querist)
07 January 2021 Dear Sir/madam,

I have taken loan from MAGMA HOUSING FINANCE in my Company's name. Every month EMI is deducting from my company's account. My question is whether tds applicable for Interest?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 January 2021 Yes, TDS applicable on the interst payment.
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ANJANI KUMAR

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ANJANI KUMAR (Querist)
07 January 2021 How sir? Every month is deducting EMI. How will you deduct TDS on Interest? Because its automatically deduct emi. How is it possible. Can you explain .
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 January 2021 Set automatic deduction of TDS also. If not possible ask the finance company to pay back TDS.
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