Computation of interest amount for the purpose of TDS

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..... A machinery is acquired on hirepurchase basis on 36 EMI payment from a NBFC co such as Magma Leasing or L T Financial Servies Ltd.My question is 1. Is there any obligation on the part of the purchase .....

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..... r to deduct tax at source, assuming it is partnership concern?If yes, then how will be the interest amount computed for the purpose of TDS? - Reply By Rama Krishana - The Reply = Hire purchase transa .....

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..... ctions can not be bifurcated into Interest and Principal for the purpose of Section 194A to deduct TDS on interest. The installment paid is towards capital installments. Morever, the the amended scope .....

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..... of TDS on rent also do not cover such transactin sine the transaction is not in the nature of rental of the property. Therefore, in my view, no TDS should be deducted from EMI. - Computation of inter .....

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..... est amount for the purpose of TDS - Query Started By: - pran shangari Dated:- 23-7-2009 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, persona .....

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..... l opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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