TDS on interest to supplier
This query is : Resolved
Jayesh Jagetiya
(Querist)
09 January 2009
Our supplier have given us 1 month's credit for the goods. We have given him payment after 3 months , so he has charged 2 months interest & we have paid this. whether we are liable to deduct tax onthis interest payment. interest amount is more than 2 lacs Rs.
CA Hemant T Dewani
(Expert)
09 January 2009
this is business exp you are not taking loans from suppliers so tds is not deducted on delay payment of interest
Jayesh Jagetiya
(Querist)
22 January 2009
But the section 194A only speaks about the INTEREST & not INTEREST ON LOAN?
Dhirajlal Rambhia
(Expert)
07 November 2021
Yes, TDS is deductible, when the cost is interest paid.
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