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Tds u/s. 194a

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Querist : Anonymous

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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?
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Sandeep Dharar

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Sandeep Dharar (Expert)
06 May 2014 No TDS is deducted on payment to Banks.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
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

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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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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
07 May 2014 yes for other financial instituitions its applicable
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