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.
CAclubindia
