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tdsapplicability

This query is : Resolved 
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(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
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CA. B.SRINIVASULU

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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.
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