TDS u/s.194A on payment of Finance Charges

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..... One of my client has availed loan from a Finance Company, a Public Limited Company engaged in financing of vehicles, in his personal name to buy a vehicle and he has used that vehicle for the purpose .....

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..... of business of the Partnership Firm in which he is one of the Partner. The Firm is paying the loan instalments and also Finance Charges to the above Company. The Firm also claims Depreciation on the a .....

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..... bove vehicle. My query is whether the Firm is liable to deduct tax at source u/s. 194A although the agreement is between the Partner in his individual capacity and the Company? I am told that very re .....

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..... cently Supreme Court has given the verdict that TDS is required to be made. If someone is aware of the above judgement please furnish the citation. - Reply By Rama Krishana - The Reply = When the fir .....

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..... m is paying the interest on loan on behalf of the individual partner on the premise that the asset on which loan has been taken by such individual partners is being used by the firm, deperciation and .....

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..... other benefits are being claimed by the firm, it is easy to say that firm has taken responsibility to pay interest and accordinly liable to TDS u/s 194A. - TDS u/s.194A on payment of Finance Charges .....

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..... - Query Started By: - Sathish Kamath Dated:- 3-9-2010 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - .....

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..... taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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