Applicability to deduct tds
This query is : Resolved
19 November 2013
hello people
one of my friend is carrying out business and his turnover is less than 20 lakhs also his profit rate is over 10% of sales.
now he wants to pay interest to his friends from whom he has taken loan to Carry on business.
now is he liable to deduct Tds and simultaneously apply for tan???
please help
19 November 2013
mention the loan amount....for appropriate sugestion.
20 November 2013
not applicable as 194A applies to individuals only when 44AB become applicable.
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