Dear All
Please Suggest me for TDS deduct from interest on Loan Taken from HDFC Bank which is NBFC or Not
TDS deducted Interest on Loan for NBFC Financial CO.LTD.
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Hdfc is nbfc bank ?
Replies (2)
HDFC bank is not an NBFC.
Please read your loan documents properly. In most of cases Banks are normally creates separate entaties (NBFC) to deals with Loans/Advances Transaction.
If Loans are offered by NBFC then TDS required to be deducted on Interest payment, Since NBFCs are not covered under Section 196
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