Tds on payment of interest

[Anup Kumar Grover]

Whether TDS required to be deducted on payment of interest to financial companies like Reliance Capital, Chhollamandlum DBS Finance, Indiabull Financial Services Ltd

AI Summary

TDS Required on Interest Payments to Financial Firms Under Section 194A of Income Tax Act A query was raised regarding the requirement of Tax Deducted at Source (TDS) on payments of interest to financial companies such as Reliance Capital, Chhollamandlum DBS Finance, and Indiabull Financial Services Ltd. The response clarified that if the payment is classified as 'interest' on loans from these companies, it is subject to TDS under section 194A of the Income Tax Act.