tdsapplicability
This query is : Resolved
manoj kumar singh
(Querist)
02 February 2009
we have purchsed the land from noida authority land is registered .Emi has been constructed. As we know,emi includes principle amount and interest. we want to know wether tds is applicable on interest component of emi
CA. B.SRINIVASULU
(Expert)
02 February 2009
If you are paying interest to any govt. authority or banks or financial institutions recognised by central or state governments then you need not deduct tax at source.
If they are like any other company registered under companies act then you have to deduct tds on interest.
If they are like any other company registered under companies act then you have to deduct tds on interest.
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