Tds on housing loan emi from india bulls
This query is : Resolved
20 November 2014
Dear Sir,
My brother has taken a housing loan from India Bulls Housing Finance. The cost of the property is 25 lacs. Does he need to deduct TDS while making EMI payment to them?
I have referred google and come to know that the Banks have been exempted from TDS deduction by borrower in case of housing loans, but i was not able to find similar guidelines w.r.t to Housing Finance Companies. Pl guide. Thanking you in advance.
My brother has taken a housing loan from India Bulls Housing Finance. The cost of the property is 25 lacs. Does he need to deduct TDS while making EMI payment to them?
I have referred google and come to know that the Banks have been exempted from TDS deduction by borrower in case of housing loans, but i was not able to find similar guidelines w.r.t to Housing Finance Companies. Pl guide. Thanking you in advance.
Ganeshbabu K
(Expert)
20 November 2014
Only commercial entities liable to deduct and pay TDS.
No need for general public
No need for general public
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Rupesh Jain
(Expert)
22 November 2014
there is not for the general person. if you are taking commercial property and vehicle then you have to deduct the tds.
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