Individual HUF
This query is : Resolved
25 March 2011
An Individual HUF has taken unsecured loan
we pay the interest my query whether tds should be deducted
we pay the interest my query whether tds should be deducted
25 March 2011
only if the turnover or professional receipt exceeds sum of60 lakh or15 lakh respectively in previous year, he is required to deduct tax at source.
I.e. If Tax Audit Applicable for Previous Year 10-11. TDS deduction required from PY 11-12.
In given case TDS deduction required u/s 194A @ 10 if threshold limit of5000/- p.a. is crossed.
I.e. If Tax Audit Applicable for Previous Year 10-11. TDS deduction required from PY 11-12.
In given case TDS deduction required u/s 194A @ 10 if threshold limit of5000/- p.a. is crossed.
25 March 2011
Required only if HUF liable for audit u/s 44AB in the previous year.
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