TDS on Loan Interest, Income Tax

[Ramesh Kumar]

Dear Sir,

We are Loan taken from TATA Finance how do deduct TDS  interest on repayment.

Thanking You

Posts / Replies

[harish khona]

DEAR SIR,

WE HAVE SIMILAR TYPE OF CASES OF SUNDARAM FINANCE, RELIGARE, INDIA BULLS AND OTHER FINANCING COMPANIES, THE ASSESSEE PAYS THE TAX ON INTEREST AND CLAIMS REIMBURSEMENT FROM THE COMPANIES BY PRODUCING THE COPY OF CHALLANS TO THEM.

THERFORE YOU CONTACT TATA FINANCE AND WE UNDERSTAND FROM OTHERS IN THIS AREA THAT TATA FINANCE FOLLOWS THE SAME PRACTICE. PL CONTACT TATA FINANCE.

REGDS HARISH KHONA

 

 

[DEV KUMAR KOTHARI]

Tax will be deducxted only on the element of interest involved in repayment by way of EMI  or otherwise. On principal sum there will be no TDS.