Tds on interest 194a
This query is : Resolved
30 June 2016
our company have one car loan from a non banking finance company, first time interest was very huge amount, that time we are deducting TDS 10% on interest, but this financial year interest below threshold limit Rs 5000, its car loan near to closing, in this situation we are liable to deduct tds ?
30 June 2016
No, as the in any year if the interest payment does not exceed the specified limit no requirement to deduct TDS
30 June 2016
you have to deduct the tDs if you are paying the intt Rs. 5000/- in a year. u/s 194A.
30 June 2016
No there is no requirement for deduction of TDS
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