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tds

TDS / TCS 888 views 7 replies

Is deducting tds in quarters compulsory????

also please send me info about tds all that you know.....

coz i dont know a thing about it.....

please aslo help me by sending it in word documents if possible.......

Replies (7)

TDS IS TO BE DEDUCTED AT THE TIME OF MAKING PAYMENT OR CREDITING THE ACCOUNT, WHICHEVER IS EARLIER. WHILE TDS IS DEPOSITED EVERY MONTH, RETURNS ARE FILED QUARTERLY. 

I THINK YOU SHOULD ASK YOUR PRINCIPAL, UNDER WHOM YOU ARE GETTING TRAINING, OR SOME SENIOR ARTICLES. EXPLAINING ALL ABOUT TDS, HERE, MAY NOT BE POSSIBLE.

Try learning TDS Provisions ! Its easy only

I agree with Santosh. Try learing TDS as non compliances can cause Temporary diallowances.

Originally posted by :santhosh
" Try learning TDS Provisions ! Its easy only "


 

but from where give me an easy and quick solution m in real hurry.

sorry sir for making such a demand.can u send some files about tds to my email id.its yuvi.rehman @ gmail.com

One individual is having his business with receipts above Rs. 40 Lacs.   He gets loan from a company where he is working as Director.  Now he has to pay interest on this loan in his personal capacity.   Is he liable to deduct tax on interest paid to the company although it is not related to his business.

Originally posted by :RAJKUMAR ARORA
" One individual is having his business with receipts above Rs. 40 Lacs.   He gets loan from a company where he is working as Director.  Now he has to pay interest on this loan in his personal capacity.   Is he liable to deduct tax on interest paid to the company although it is not related to his business. "


 

Sec 194 A provides that any individual or HUF whose sales or gross receipts exceeds the limits prescribed in sec 44AB then he will deduct tds on payements made for loan borrowed. here it is to be seen whether he accepted loan from the company in his own name or in the name of the business... and whether the business is a sole proprietorship or partnership needs to be seen. because in section it is clearly provided that he should be and individual or HUF....

Any corrections to the above solution will be helpful....

He has taken loan in his own name and not in the name of business.  But the business is a sole proprietorship business.


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