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Tds on emi of car loan

This query is : Resolved 
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(Querist)
22 March 2013 can anyone suggest me whether tds will be applicable to Emi paid to BMW financial services p ltd.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 March 2013 Yes. TDS applicable on interest paid to financial companies. only Bank interest is exempted from TDS
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