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TDS 194 to nbfc

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231 Points Posted on 20 September 2023
Is TDS os required to deduct u/s 194A on payment to NBFC like bajaj Finserv???
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On 20 September 2023 at 18:57 Report
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Profession Business
28196 Points Posted on 20 September 2023
Pls explain in detail.
44 Reply
On 20 September 2023 at 19:33
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231 Points Posted on 20 September 2023
Individual having turnover 2 crore, paying interest to a NBFC (Bajaj Finserv) of 5 lakh ,
now is he required to deduct TDS u/s194A??
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On 20 September 2023 at 20:49
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CFO- at NHTF
58280 Points Posted on 22 September 2023
Interest payment to banks and NBFC is exempted from Tds
59 Reply
On 22 September 2023 at 15:40
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231 Points Posted on 22 September 2023
How can I verify about NBFC? banking company specifically written in section but there is nothing about NBFC.

please reply
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On 22 September 2023 at 17:24
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CFO- at NHTF
58280 Points Posted on 23 September 2023
NBFC will cover under Financial Institution.

Further query is about under which section you deduct tax ?

Section 194A is applicable only if the payer is bank or financial institution. Is it correct?
59 Reply
On 23 September 2023 at 00:33


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