Re: FBT & TDS ON INTEREST PAID ON VEHICLE LOAN

Fri, 20 Mar 2009 00:14:14 -0700

Friday 20 March 2009, 12:18 PM

Yes.  Payments to NBFC  should be subjected to TDS on interest portion alone
provided the assessee's accounts are subject to Tax Audit requirement.

for futher details its better to contact your chartered accountant on this issue since
the status of the assessee who pays interest has more relevance on the deduction of TDS

G  Narayanan  / Leaap / Chennai.
HP        + 91 98402 18471
LP        + 91 44 42222100/115  
          + 91 44 42222127   Direct
E -       [email protected]
Skype -   leaapcorporate
W -       www.leaap.com


srinivasulu k wrote:

 
dear all,

we are paying interest to tata capital limited.  Kindly let me update, whether we have to deduct tds or not.  I think this is a NBFC.

THANKING YOU
srinivasulu k
On Fri, 20 Mar 2009 leaap corporate gmail wrote :
>Friday 20 March 2009, 10:52 AM
>Tds on interest to be deducted if the financier is not a Bank .
>Interest and depreciation of Non Commercial Vehicles is
>to be included in Vehicle maintenance for calculating the FBT
>-
>
>G  Narayanan  / Leaap / Chennai.
>HP        + 91 98402 18471
>LP        + 91 44 42222100/115
>          + 91 44 42222127  Direct
>E -
>[email protected]
>Skype -  leaapcorporate
>W -
>www.leaap.com
>++++++++++++ End of Message ++++++++++++
>srinivasulu k wrote:
>
> 
>Dear all,
>Kindly let me update, whether we have to deduct tds on interest paid to
>vehicle finance amount and also whether fbt applicable on the same
>interest.  Kindly update me.
>thanking you
>srinivasulu k
>
>Srinivasulu k
>
>P Please don't print this e-mail unless you really need to.
>

Srinivasulu k
P Please don't print this e-mail unless you really need to.




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