Tds on interest paid to nbfc
This query is : Resolved
21 July 2014
D/sir,
Whether TDS is applicable on interest paid to NBFC against finance of Machinery under manufacturing unit in f.y. 2013-14
Whether TDS is applicable on interest paid to NBFC against finance of Machinery under manufacturing unit in f.y. 2013-14
21 July 2014
Yes, Defintely
.
.
You need to deduct TDS under section 194A
.
.
But it is possible that post dated cheques will be issued to them
.
.
So we need to pay TDS applicable from our pocket and can claim from them on production of TDS certificate quarterly
.
.
please ask NBFC regarding this generally majority of NBFC will have lower deduction certificate or nil deduction certificate under section 197
.
.
You supposed to deduct accordingly
.
.
You need to deduct TDS under section 194A
.
.
But it is possible that post dated cheques will be issued to them
.
.
So we need to pay TDS applicable from our pocket and can claim from them on production of TDS certificate quarterly
.
.
please ask NBFC regarding this generally majority of NBFC will have lower deduction certificate or nil deduction certificate under section 197
.
.
You supposed to deduct accordingly
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