Please clarify ,whether Interest payment to a NBFC( borrowing loans,e-g,vehilce), by a proprietor concern, where assessee is an individual,will attract TDS ?
Menu
Tds on interest payment
Replies (2)
Yes TDS is required to be deducted from interest payments to NBFC
Please check section 194A(3) for ur clarification.
Sec.194A : TDS on Interest other than interest on securities applies to persons other that Individual or HUF.
Since in your case the assessee is an individual (sole proprietor) the said section shall apply only if he is liable for audit u/s. 44AB
Recent Topic
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
- CA FINAL FR IndAS 33 Doubt(Corrected)
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
Related Topics
CAclubindia
