Tds should be deducted or not

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pawan (Querist)
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13 June 2014 Kotak Mahindra Prime limited (KMPL) is a subsidiary of Kotak Mahindra Bank Limited primarily formed to finance all passenger vehicles.Interest paid to Kotak Maheindra PRime Ltd so plz tell me whether tds should be duducted or not

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 yes...assuming you are not an individual or HUF (with less than 44AB turnover limits), you should deduct TDS..

Rupesh Jain

Rupesh Jain (Expert)
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13 June 2014 yes tds will be deductable u/s 194A for interest other than security . if your book of account will audit u/s 44AB.

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