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Deduction of tds

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(Querist)
25 June 2015 Soleproperitor pays interest on unsecured loans should he deduct TDS
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 June 2015 yes if the proprietor is covered under tax audit
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
25 June 2015 In case of payments made under sec. 194A, 194C, 194H, 194I and 194J in respect of individual and HUF, only if the turnover or professional receipt exceeds sum of Rs. 100 lakh or Rs. 25 lakh respectively in previous year, he is required to deduct tax at source.

Example: Tax Audit is applicable in FY 2013-14 so TDS required to be deducted from FY 2014-15.
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