TaxTMI 
TaxTMI 
TaxTMI 
TDS u/s.194A on payment of Finance Charges
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....DS u/s.194A on payment of Finance Charges<br> Query (Issue) Started By: - Sathish Kamath Dated:- 3-9-2010 Last Reply Date:- 6-9-2010 Income Tax<br>Got 1 Reply<br>Income Tax<br>One of my client has ava....
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....iled 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 of business of the Partn....
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....ership 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 above vehicle. My query i....
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....s 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 recently Supreme Court has g....
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....iven 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 firm is paying the interest on lo....
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....an 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 other benefits are being claim....
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....ed by the firm, it is easy to say that firm has taken responsibility to pay interest and accordinly liable to TDS u/s 194A.<br> Discussion Forum - Knowledge Sharing ....