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Q. > Please Help: TDS APPLICABILITY ON INTEREST PAID TO NBFC BY PROPRIETORSHIP ORGANISATION FALL UNDER AUDIT U/S 44AB OF INCOME TAX ACT
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567 views • Question added May 28, 2016 • Income Tax • By CA NITESH KUMAR SHAH , CA , Indore


PLEASE LET ME KNOW WHETHER TDS IS APPLICABLE AND MANDATORY ON INTEREST ON LOAN FROM NBFC BY PROPRIETORSHIP ORGANISATION FALL UNDER AUDIT U/S 44 AB OF INCOME TAX ACT, FURTHER TDS IS TO BE REFUNDED BY NBFC, IF TDS NOT PAID WHAT ARE THE CONSEQUENCES

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vikash singh gusain

31-May-2016 , 11:33:43 pm

yes tds will be applicable because exemption given under the sec 194A(3) nbfc are excluded or say no exemtion to mbfc . consequences wil be intt for non deducting and depositing @ 1% if deducted but not deposited @ 1.5 % and penalty may impose .

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Shatrudhan Singh

01-Jun-2016 , 05:01:24 pm

Yes TDS deduction Mandatory on Interest........

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