TDS Provision
This query is : Open
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VIPIN GUPTA
(Querist)
20 March 2021
One of our client is a Private School he is paying Interest to NBFC for loan taken. Will TDS provision no applicable on it.
CA R SEETHARAMAN
(Expert)
20 March 2021
TDS provisions applicable for such interest payable.
21 March 2021
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.
VIPIN GUPTA
(Expert)
21 March 2021
Loan Taken From NBFC are liable to TDS
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