We have finance a car through the bank . Banking company given us amortization table. I want to know about should tds
deducted on intrerest paid to banking compnay.
Harkesh Kumar (Finance Manager) (97 Points)
13 April 2012We have finance a car through the bank . Banking company given us amortization table. I want to know about should tds
deducted on intrerest paid to banking compnay.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 13 April 2012
There is no need to deduct TDS on interest paid to Banks regulating under the Banking Regulations Act, 1949.
Regards,
Devendra Kulkarnia
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