A COMPANY HAS TAKEN A LOAN OF RS.5 CRORES FROM RELIANCE CAPITAL LIMITED. FOR WORKING CAPITAL REQUIREMENTS. AND THE MONTHLY EMI OF THE LOAN IS RS.6 LACS INCLUDING INTEREST OF RS.50,000 THOUSAND APPROX.
NOW I WANT TO KNOW WHEATHER TDS LIABILITY WOULD BE ATTRACTED OR NOT.
I AM OF THE VIEW THAT TDS LIABILITY WILL BE ATTARACTED U/S 194A AS IT IS A NBFC.
AM I CORRECT, PLEASE CONFIRM THIS.
Dear Lalit,
Yes TDS will be deducted u/s 194A.
/forum/tds-on-interest-of-car-loan-24971.asp
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