DISALLOWANCE
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2010
WHETHER INTEREST PAID ON UNSECURED LOAN FROM BANKS IF TDS IS NOT DEUCTED ON THEM IS DISALLOWED?
25 September 2010
Interest paid to bank need not be subjected to income tax deduction as per section 194A(3)((iii)(a)of the Income tax Act,1961 meaning thereby that such interest will not be disallowed for the purpose of tax computation.
Message likes :
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25 September 2010
INTEREST PAID ON UNSECURED LOAN excess 5000 TDS applicable.
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