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TDS Provision

One of our client is a Private School he is paying Interest to NBFC for loan taken. Will TDS provision no applicable on it.

TDS provisions applicable for such interest payable.

The school must be run and managed by a Society or Trust. It is required to deduct tax u/s 194A if the interest paid or payable in a year exceeds Rs.5,000. If the loan is taken from a Bank then not required to make TDS.

Loan Taken From NBFC are liable to TDS

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