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TDS on Interest

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ash_winb [ Scorecard : 49]	Posted On 29 April 2008 at 14:53
	Friends, 1. Interest paid to partner for loan taken by partnership firm, is TDS is deductable on such interest?

Shyam Lal Naik Service [ Scorecard : 5784]	Posted On 29 April 2008 at 15:03
	It will attract TDS. Loan taken from Partner or any body else does not matter.


Ankit Khandelwal Student [ Scorecard : 24]	Posted On 29 April 2008 at 15:59
	ya Interest made to partner attracts TDS otherwise it is a non compliance of TDS

CA. BIJENDER KR. BANSAL ACA, B.COM [ Scorecard : 7433]	Posted On 29 April 2008 at 17:02
	yes, TDS will be attract on Interest on loan . Whether loan taken from partners or from anywhere. Tds u/s 194 A will be attract.

srikanth s article assisstant [ Scorecard : 20]	Posted On 30 April 2008 at 13:31
	1. TDS under section 194A does not apply to interest paid to partner in a firm as per section 194A(3)(iv)

Shyam Lal Naik Service [ Scorecard : 5784]	Posted On 30 April 2008 at 15:34
	Does the section refered by Mr. Srikanth apply to interest on loan? It appears that the said section apply to interest on capital only and to loan

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