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Do tds required to be deducted on interest paid for car loan or home loan for which emi payment is made as per chart provided
Replies (5)
No need to deduct TDS on such interest paid
no
यदि राशि का भुगतान किया है या जो बैंकिंग विनियमन अधिनियम 1949 लागू होता है एक बैंकिंग कंपनी के लिए जमा, टीडीएस की आवश्यकता नहीं .
not required to deduct TDS..
@ Rajesh
As per Sec-194A
you need not deduct TDS on interest paid to financial Institutions, if interest payment is more than Rs.5000/- PA to other than fiancial institution like Sundaram Finance, Fincorp, Muthoot Finance etc..you need to deduct TDS as per SEC-194A subject to LOWER/NIL deduction certificate produced by the institution.
If i am wrong please explain
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