Hi Friends,
The question below is with regard to Purchase of Computers on Hire Purchase Basis.
I wanted to know if the interest portion on hire purchase should be paid after deducting TDS under section 194A.
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Hire purchase and TDS applicability
Replies (6)
Yes. Interest paid under a hire purchase contract should be paid net of TDS as the interest portion in the EMI shall be the income of the receiver.
TDS will be deduct on interest amount
Yes, TDS will be applicable on interest paid.
Yes, Deduct TDS on Interest portion
Depends on the status of the lender. Interest paid to banking companies, financial institutions and other notified institutions are exempt from TDS requirement.
YES APPLICABLE TDS ON INTEREST PORTION
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