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TDS On Interest On Loan (Income Tax)

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This query is : Resolved

( Author )
13 September 2009


Could u please let me know if a company is paying interset on loan to its director then at what rate the TDS will be deducted??

I mean will it be a part of Salary and tds is deducted at slab rate of the relevant Assessment Year


Will the TDS is deducted at Interest Other Than On Securities..

Please Reply


CA.Tarun Maheshwari

( Expert )
13 September 2009

It shall be deducted at the rates prescribed under 'Interest other then Interest on securities.' It is on loan and can not be a part of salary. Salary and Loan, both are totally different and can not be clubbed together.


( Author )
14 September 2009

Is that some where it is written in the act it is to be deducted at Interest On Securities


( Author )
14 September 2009

Anyways thanx For your reply sir...Thanx

CA.Tarun Maheshwari

( Expert )
14 September 2009

It is not need to be written specifically. It is clearly looking that its not a part of salary. And intt on loan is treated as intt other then the securities. Hence it has to be deducted at that rate only.



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