194A TDS Deduction On NBFC & Bank

Others 126 views 3 replies

Hey, All

Want to know about something in 19A TDS Deduction On NBFC & Bank

Why do we have to deduct TDS on the interest of NBFC Company only why not a bank? 

Now I am working with a logistic company that only deduction TDS 10% on NBFC interest 

But not in bank case? can anyone explain me? 

I searched so much but not found the relevant answer 

Replies (3)
Bank required to deduct TDS only on interest of Deposits. If your gross interest from deposits more than Rs.50000, bank will deduct TDS.

Thanks For Answer 

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