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TMI BlogDeductibility u/s 194 AX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether TDS u/s 194A is required to be deducted on payment to interest on taking finance from the Indiabulls, Reliance Capital, GE Money, Chholamandlum, whether these are financial institutions or o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther wise financing cos - Reply By DEV KUMAR KOTHARI - The Reply = yes, TDS is required because these are simply a companies engaged in business of financing they are not banking companies or bansk ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but NBFC. The exceptions from TDS are provided in S. 194A(3) .Depending on the capacity of payer or the amount of interest paid by a person, there can be some exceptions. Company engaged in insurance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... business, receiving interest , is also exempt- it can be checked if any such company qualify for such exception u/s 194A (3) (iii)(e). The chances are remote, becasue insutrance business is usually ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... carried in separate compnay due to applicable regulations. - Reply By V Ramanujam - The Reply = The view of Sri Kothari is correct and as these companies are not banking/insurance companies, the in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest component for the finance obtained would squarely liable for TDS u/s 194A. - Deductibility u/s 194 A - Query Started By: - Anup Kumar Grover Dated:- 5-9-2008 Income Tax - Got 2 Replies - In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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