Tds on interest
This query is : Resolved
ashok bhurani
(Querist)
06 October 2015
I want to know whether Sundaram Finance Limited is banking company for the purpose of deduction of tax at source under section 194A on payment of interest
CA. Amit G. Chandani
(Expert)
06 October 2015
It is NBFC and TDS is applicable if interest exceeds Rs. 5,000/-. However, Individual and HUF (other than those covered u/s 44AB) are out of the purview of this section.
ashok bhurani
(Querist)
07 October 2015
Thanks Mr. Amit for your quick reply
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