We are Loan taken from TATA Finance how do deduct TDS interest on repayment.
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WE HAVE SIMILAR TYPE OF CASES OF SUNDARAM FINANCE, RELIGARE, INDIA BULLS AND OTHER FINANCING COMPANIES, THE ASSESSEE PAYS THE TAX ON INTEREST AND CLAIMS REIMBURSEMENT FROM THE COMPANIES BY PRODUCING THE COPY OF CHALLANS TO THEM.
THERFORE YOU CONTACT TATA FINANCE AND WE UNDERSTAND FROM OTHERS IN THIS AREA THAT TATA FINANCE FOLLOWS THE SAME PRACTICE. PL CONTACT TATA FINANCE.
REGDS HARISH KHONA
Tax will be deducxted only on the element of interest involved in repayment by way of EMI or otherwise. On principal sum there will be no TDS.