Deduction of tds
This query is : Resolved
Guest
Guest
(Querist)
06 January 2012
Dear Experts,
Should TDS be deducted on interest paid on loan?? is there any threshold limit for this?? Suppose we are paying interest Quarterly then should TDS be deducted??
Should TDS be deducted on interest paid on loan?? is there any threshold limit for this?? Suppose we are paying interest Quarterly then should TDS be deducted??
06 January 2012
Yes TDS to be deducted u/s 194A.
Rate : 10%
Threshold limit:
Interest from a Banking Company-Rs 10000/-
Interest other than from a Banking Co. Rs 5000/-
Individual and HUF not falling under purview of Tax Audit in Previous Year are not liable to deduct TDS.
If No PAN give then deduct 20% TDS
Rate : 10%
Threshold limit:
Interest from a Banking Company-Rs 10000/-
Interest other than from a Banking Co. Rs 5000/-
Individual and HUF not falling under purview of Tax Audit in Previous Year are not liable to deduct TDS.
If No PAN give then deduct 20% TDS
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