Tds on interest car loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2018
Sir,
1)we have taken car loan from Kotak Mahindra Bank and we are paying EMI ,
Is tds applicble on Interest paid
2) And also we have taken unsecured loan from Aditya Birla Finance ltd /Bajaj Finace ltd
We are paying interest along with principle monthly Is tds is applicable on Interest
Please advise
Thanks
Geetha s
Vedik Ispat pvt Ltd
Bangalore
1)we have taken car loan from Kotak Mahindra Bank and we are paying EMI ,
Is tds applicble on Interest paid
2) And also we have taken unsecured loan from Aditya Birla Finance ltd /Bajaj Finace ltd
We are paying interest along with principle monthly Is tds is applicable on Interest
Please advise
Thanks
Geetha s
Vedik Ispat pvt Ltd
Bangalore
ASHWANI DHANUKA
(Expert)
14 February 2018
TDS applicable when you paying int to NBFCs
KAVIRAJA ADDANGADI
(Expert)
14 February 2018
Yes, TDS applicable for NBFC financial institutions other than banking company. Interest Paid to Bajaj finance and Aditya Birla Finance on Interest paid TDS to be deducted.
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