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Tds on interest u/s 194 a
I took loan from three Parties. I paid the total interest to only one person among those parties. what is TDS consequences in followimg cases:
(I) If interest to each party is cover U/s 194A
(II) If Two or One Party is Cover U/s 194A
(III)If Only Total interest is Cover U/s 194A.
TDS deducted only on Interest Paid( As Case May be). How much of TDS amount consider in 26AS of Which Party & what effect will be in ITR & 26AS of all parties including me?
Replies (1)
if you are liable to deduct TDS as per income provisions
you have to deduct TDS on aggregate amount of interest credited or paid during the financial year to one party more than 10,000/-
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