Tds u/s. 194a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2014
Is TDS deductible u/s. 194A from the interest component in EMIs payable to (i) Financial Institutes (b) Banks ? If so, then what is the threshold limit for deduction?
Sandeep Dharar
(Expert)
06 May 2014
No TDS is deducted on payment to Banks.
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06 May 2014
No need to deduct TDS if interest paid to a banking company to which the Banking Regulation Act 1949 applies.
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Nikhil Kaushik
(Expert)
07 May 2014
but for other financial institutions such as NBFCs, TDS shall be applicable. please refer the section for the cut-offs.
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07 May 2014
yes for other financial instituitions its applicable
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