TaxTMI 
TaxTMI 
TDS U/s 194A on vehical loan
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....DS U/s 194A on vehical loan<br> Query (Issue) Started By: - HIMANSHU JARIWALA Dated:- 5-1-2011 Last Reply Date:- 28-1-2011 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear All Is any TDS required on....
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.... intrest payment on vehical loan taken from financial institution like "Sundaram Finance". I heard that earlier it was exepted but ti is withrawn in current year. Reply By Razesh Sharma: The Reply: ....
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....If the assessee is an individual not falling within the purview of tax audit, there is no TDS liability.There are certain exemptions to Sec 194A for TDS deduction on interest other than interest on se....
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....curities. In case if the interest is paid to Banking Company, Public financial institutions, co-operative society engage in the business of banking. Then there is no need to deduct the TDS on interes....
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....t paid. just check Sundaram Finance whether is covered as public financial institution. Reply By Sathish Kamath: The Reply: Tax Deductor is required to deduct tax at source @ 10% u/s194A from th....
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....e payment of Finance charges or any other charges paid to Sundaram Finance Ltd for availing vehicle loan, if aggregate of such sum exceeds Rs.5,000 in a year. If the Company produces Nil deduction cer....
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....tificate from their Jurisdictional Assessing Officer (TDS) to the tax deductor then TDS need not be made by the tax deductor. If lower TDS certificate is produced then TDS shall be made at such lower ....
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....rate.<br> Discussion Forum - Knowledge Sharing ....