TDS ON INTEREST TO RELIGARE & CHOLAMANDALAM
This query is : Resolved
j.k.sharma
(Querist)
14 September 2009
Hello every one:
I want to know that our co taken LAP from religare & cholamandalam & paying emi. let me know is there any tds liblity on repayment of interest on EMI paid by us.if yes on which amount only interest amount or total amount paid through EMI + processing fees charged by them
Thanks in advance
I want to know that our co taken LAP from religare & cholamandalam & paying emi. let me know is there any tds liblity on repayment of interest on EMI paid by us.if yes on which amount only interest amount or total amount paid through EMI + processing fees charged by them
Thanks in advance
Shyam Lal Naik
(Expert)
14 September 2009
Section 194A is applicable. It is applicable on interest only and not on repayment of principal.
Can not opine on Processing Fee.
Can not opine on Processing Fee.
Aditya Maheshwari
(Expert)
14 September 2009
Mostly TDS not applicable on processing fees and TDS liable on interest part only.
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