Tds on interest portion of emi ???
This query is : Resolved
27 May 2016
Hello everyone,
One of my client had purchased machinery and had availed loan from NBFC.
My question :
Is it compulsory to deduct tax on INTEREST PORTION OF EMI ? If yes then how to deduct since EMI is going through ecs mode ?? Will the lender reimburse the TDS if paid from own pocket ???
One of my client had purchased machinery and had availed loan from NBFC.
My question :
Is it compulsory to deduct tax on INTEREST PORTION OF EMI ? If yes then how to deduct since EMI is going through ecs mode ?? Will the lender reimburse the TDS if paid from own pocket ???
27 May 2016
NBFC if interest paid or deducted for same TDS is applicable. U/s 194I. Same to be recovered from NBFC After issuing TDS certificate.
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