Tds on interest on loan from nbfc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2013 query is

Our company finance its assets from NBFC and monthly installments including interest is fixed for repayment of loan

How the TDS provision will apply as EMI can not be reduced by TDS amount

Thanks and regards
Ritesh khurana

Ganeshbabu K

Ganeshbabu K (Expert)
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07 June 2013 You deposit tds in the name of nbfc on tds interest amount and collect the tds amount from nbfc by producing tds certificate to them.

Ask them and confirm whether they have any tds lower deduction certificate as per 197,,generally nbfc do apply for lower deductions.

Thanks & regards

Ganeshbabu

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2013 thanks sir

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