TDS ON INTEREST PAYABLE TO NBFCs

1771 views 1 replies

Dear Sir,

 

I would like to know @ what rate TDS to be collected from interest paybale  on NBFC loans. If the finance company is refusing to give refund on production of TDS Certificates, what is next step?

Replies (1)

TDS rate is 10% for the interest other than interest on secuirties,

But where interest is credited or paid to any banking company, co-operative society engaged in banking business, public financial institutions, the LIC, the UTI, a company or a co-operative society carrying on the business of insurance, or notified institutions TDS is not applicable.

you should approch incometax department for the refund of TDS, not the deducting company, the TDS deducted from the payee will be deposited into Central government a/c.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details