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TDS on finance charges

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(Querist)
04 May 2008 Is TDS to be deducted on finance charges ie on interest paid on the loan amount
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Amit Sharma

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Amit Sharma (Expert)
05 May 2008 Yes it has to be deducted . Under section 194 A. i.e. TDS on Interest other than securities.
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CA. Kirti S. Ganatra

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CA. Kirti S. Ganatra (Expert)
05 May 2008 Yes it has to be deducted



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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
05 May 2008 Not on interest on loan taken from Banks.
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R.V.RAO

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R.V.RAO (Expert)
05 May 2008 YES UNDER SEC 194 A -TDS NEEDS TO BE DEDUCTED ON FIN. CHARGES (BANKS AND FIs EXCEPTED).
R.V.RAO

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