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Friends, 1. Interest paid to partner for loan taken by partnership firm, is TDS is deductable on such interest?
It will attract TDS. Loan taken from Partner or any body else does not matter.
ya
Interest made to partner attracts TDS
otherwise it is a non compliance of TDS
1. TDS under section 194A does not apply to interest paid to partner in a firm as per section 194A(3)(iv)
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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