Does the Tds deduction applicable on intrest on vehicle loan? Is it possible to compute the same on basis of Old income tax slab
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Applicablity of Tds in vehicle loan
Replies (6)
Interest payable by banks is prone to tds. But not your interest payable. Interest paid by friends or relatives is prone to 5% but not vehicle loan. Tds is applicable on purchases above 50 lakhs worth goods only
Applicability of tds in vehicle loan is not there.
If it is not a Bank .....you should deduct tds on paying interest against Vehicle Loan
@ Naredra under what section please
| Originally posted by : Yasaswi Gomes new | ||
 |
@ Naredra under what section please |  |
Same, 94 A
Interest on car loan from anyone other than a bank is liable to tds @ 10%
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