Tax deducted at source
This query is : Resolved
Pawan Kumar
(Querist)
20 June 2020
Dear Sir,
I have unsecured loan of Rs. 3,00,00,000 and pay EMI of Rs. 4,10,336/- Monthly. In the previous quarter I paid total amount of Rs. 12,31,008/-
Where principle is = 5,59,545/-
Interest is = 6,71,463/-
TDS @ 10% = 67,146/- or (6,71,463 x 100 / 90) = 7,46,070 *10% = 74,607/-
Which is Correct calculation?
Kindly help me how to calculate TDS on interest paid for unsecured loan.
I have unsecured loan of Rs. 3,00,00,000 and pay EMI of Rs. 4,10,336/- Monthly. In the previous quarter I paid total amount of Rs. 12,31,008/-
Where principle is = 5,59,545/-
Interest is = 6,71,463/-
TDS @ 10% = 67,146/- or (6,71,463 x 100 / 90) = 7,46,070 *10% = 74,607/-
Which is Correct calculation?
Kindly help me how to calculate TDS on interest paid for unsecured loan.
CA R SEETHARAMAN
(Expert)
20 June 2020
If interest is paid 6,71,463 after 10% TDS then calculate TDS (6,71,463 x 100 / 90) = 7,46,070 *10% = 74,607/-
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