TaxTMI 
TaxTMI 
Tds applicability on NBFC companies
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....ds applicability on NBFC companies<br> Query (Issue) Started By: - sunil mehta Dated:- 16-7-2009 Last Reply Date:- 20-7-2009 Income Tax<br>Got 2 Replies<br>Income Tax<br>A partnership firm borrows tak....
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....es a personal loan from HDB Financial Services Ltd,a subsidiary of HDFC Bank Ltd. for business purpose.hdb fIN.SER. LTD. IS A nbfc.That partnership firm was under tax audit in A.Y. 2008-09.The firm pa....
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....id interest on personal loan exceeding rs.5000/- during the financial year. 1)Whether NBFC are subjected to TDS ?(ON INTEREST PAID BY BORROWER FOR BUSINESS PURPOSE) 2)Is there any exemption to NBFC?(B....
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....anks are out of purview of section 194A)?If yes then quote notification/circular no. Reply By Rama Krishana: The Reply: I thing NBFCs are not banking companies and not eligible for the provisions of....
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.... section 194A. However, it seems that the matter is controversial and more debate and views are invited on this issue. Reply By GOPALJI AGRAWAL: The Reply: Since the law is clear so no need of any no....
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....tification or circular. Banks are exempt only. NBFC are not exempt and I have faced similar situation.Banking companies are those on whom banking regulation act applies.<br> Discussion Forum - Knowled....
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....ge Sharing ....