Interest on Capital to Partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2010
Whether TDS is to be dedcuted on interest credited or paid on capital of Partner(Partner being a Company )by the Partnership Firm.
27 October 2010
Not required as per section 194A(3)(iv)
Message likes :
1 times
28 October 2010
right.. TDS section 194A excludes payment of interest to partners by firm
28 October 2010
Interest to a partners by a firm is treated as business income, for this logic the TDS is not made applicable u/s 194A on this income of a partner.
28 October 2010
Taxindiaconnect going by your logic then when payment is made to NBFCs they are also showing interest income received by them as business income.
So should TDS not be deducted while making payment to them also going by your above logic.
Kindly revert on the same.
So should TDS not be deducted while making payment to them also going by your above logic.
Kindly revert on the same.
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