Tds on loan from capital first

TDS 1358 views 3 replies

My company has taken loan from Capital First and we have been paying interest on the same 

So Please tell me that is TDS u/s 194A is applicable on Interest paid ..

 

 

Regards

 

Rishav Damani

Replies (3)

194A – TDS on Interest (other than Interest on Securities) 10% or 20% (if no PAN is furnished). TDS Should deduct.

sir, as capital first & IDFC Bank are now merged, is the tds liability stands

 

 

No tds is to be deducted on the interest for the FY 2019-20 on the loan from Capital as the NBFC has been now converted to a bank - IDFC First Bank effective 18th December 2018. 

However for FY 18-19 tds must be deducted only day before the date of merger. Please confirm with the bank before deducting ths TDS for FY 2018-19

 

 


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