submssion of 15h
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2010
We are a partnership firm and have taken some loans from a private party who is an agriculturist,.We are subject to 44AB provisions. We have to pay interest to the private party of about Rs.2.5 lacs for f.y.2009-2010. However, he does not have PAN and says that he willgive 15H and that we should not deduct any TDS.
Is this correct ? What is our stake in this issue since we have got tax audit.
Is this correct ? What is our stake in this issue since we have got tax audit.
CA Pramod Jain
(Expert)
11 January 2010
since u r paying 2.5 lac that is above basic exemption limit i suggest there is no use of form 15h and u should deduct tds on it.
CMA Arif Farooqui
(Expert)
11 January 2010
agree
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