TDS under Section 194A is applicable on interest paid to Bajaj Finance, being an NBFC, if the interest amount exceeds the prescribed threshold limit. The applicable TDS rate is generally 10%.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 December 2016
Dear Experts A bike was financed by bajaj finance pls tell me weather TDS is to be deduct on interest amount paid to bajaj finance?
01 December 2016
No, TDS is not applicable on payment to any financial institution and Govt.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 December 2016
Dear sandeep sir. I think bajaj finance is NBFC therefore TDS shall be applicable on interest paid to the same. However if still your view is differ then pls quote any relevant section/clause/case law
02 December 2016
Yes, TDS is applicable u/s 194A, if the amount exceeds the limit mentioned in the section (10K) @10%. I mistakenly taken it a financial institution.