TDS on finance charges
This query is : Resolved
Tejashwini
(Querist)
04 May 2008
Is TDS to be deducted on finance charges ie on interest paid on the loan amount
Amit Sharma
(Expert)
05 May 2008
Yes it has to be deducted . Under section 194 A. i.e. TDS on Interest other than securities.
CA. Kirti S. Ganatra
(Expert)
05 May 2008
Yes it has to be deducted
CA. GOPAL SONIKA
(Expert)
05 May 2008
Not on interest on loan taken from Banks.
05 May 2008
YES UNDER SEC 194 A -TDS NEEDS TO BE DEDUCTED ON FIN. CHARGES (BANKS AND FIs EXCEPTED).
R.V.RAO
R.V.RAO
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