TDS on HP Interest
This query is : Resolved
Debasish Mohanty
(Querist)
03 April 2010
Is Sec. 194A aplicable for the interest portion of HP instalment.
03 April 2010
WHEN A PART OF PURCHASE INSTALMENT IS PAID BY A HIRER TO THE OWNER UNDER A HIRE PURCHASE CONTRACT, THE PROVISIONS OF SEC 194A ARE NOT ATTRACTED----
INSTRUCTION NO.1425, DATED NOV.16, 1981
INSTRUCTION NO.1425, DATED NOV.16, 1981
kartik_somu
(Expert)
03 April 2010
agree with expert
Shyam Lal Naik
(Expert)
03 April 2010
Either it shall be interest or hire charge.
If it is a loan arrangement, the interest portion of the EMI is exigible to TDS u/s 194A.
If it is Hire Purchase, the hire charge will be exigible to TDS u/s 194I.
If it is a loan arrangement, the interest portion of the EMI is exigible to TDS u/s 194A.
If it is Hire Purchase, the hire charge will be exigible to TDS u/s 194I.
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