Tds on interest

 company has taken loan from L&T finance and is paying interest on it. is tds applicable on it or not.

Replies (1)

Exemption is provided to the following i. e. no TDS on interest paid to them: to such income credited or paid to - (a)  any banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies, or any co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank), or  (b)  any financial corporation established by or under a Central, State or Provincial Act, or (c)  the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956), or (d)  the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963), or       (e)  any company or co-operative society carrying on the business of insurance, or (f)  such other institution, association or body 78[or class of institutions, associations or bodies] which the Central Government may, for reasons to be recorded in writing, notify79 in this behalf in the Official Gazette;
 

As per above explanation TDS applicable

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details