INTEREST ON UNSECURED LOAN
This query is : Resolved
HEMANT AGARWAL
(Querist)
07 September 2009
SIR,
PLEASE HELP ME OUT
IS IT NECESSARY TO CREDIT INTEREST FOR UNSECURED LOAN IN CASE OF INDIVIDUAL
IF YES
IS IT NECESSARY TO DEDUCT TDS IN SUCH CASE.
PLEASE HELP ME OUT
IS IT NECESSARY TO CREDIT INTEREST FOR UNSECURED LOAN IN CASE OF INDIVIDUAL
IF YES
IS IT NECESSARY TO DEDUCT TDS IN SUCH CASE.
CA. B.SRINIVASULU
(Expert)
07 September 2009
If the individual is following merchantile method then you have to credit interest on unsecured loan and if he is following cash basis the same will not arise.
Further for individual tds provisions are not applicable.
Further for individual tds provisions are not applicable.
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