Interest on loans and advances
This query is : Resolved
11 July 2011
A company(non banking financing company) gives a loan of75 lac to another company(resort). They charge interest @ 13% P.a.My question is
1)under which head interest will be taxable?
2)how much TDS should be deducted?
nder which head means heads of income under income tax act 1961
1)under which head interest will be taxable?
2)how much TDS should be deducted?
nder which head means heads of income under income tax act 1961
11 July 2011
indirect income ( income on deposits / loans)
194A.10%
194A.10%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- Copyright software
- Regarding appeal to GSTAT
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
