TaxTMI 
TaxTMI 
TaxTMI 
Deductibility u/s 194 A
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....eductibility u/s 194 A<br> Query (Issue) Started By: - Anup Kumar Grover Dated:- 5-9-2008 Last Reply Date:- 6-9-2008 Income Tax<br>Got 2 Replies<br>Income Tax<br>Whether TDS u/s 194A is required to be....
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.... deducted on payment to interest on taking finance from the Indiabulls, Reliance Capital, GE Money, Chholamandlum, whether these are financial institutions or other wise financing cos Reply By DEV KU....
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....MAR 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 but NBFC. The exceptions from TDS are provid....
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....ed 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 business, receiving interest , is also exempt....
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....- 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 carried in separate compnay due to applicable r....
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....egulations. Reply By V Ramanujam: The Reply: The view of Sri Kothari is correct and as these companies are not banking/insurance companies, the interest component for the finance obtained would squa....
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....rely liable for TDS u/s 194A.<br> Discussion Forum - Knowledge Sharing ....