Generally we deduct TDS on payment of inetrest to NBFC.In case of delayed payment of EMI they will levy Overdue interest, and prepayment charges in case of preclosure and cheque bounce charges in case of cheque bounce. So whether we need to deduct TDS on overdue interest, prepayment charges and cheque bounce charges.
TDS on late payment of EMI u/s 194A
CA Nagamani (Chartered Accountant (Employee) ) (26 Points)
21 February 2021