Tds
This query is : Resolved
30 October 2013
I want to know that is it mandatory to book the provision for interest on unsecured loan on quarterly basis. And if I would like to pay the interest on unsecured loan for the period from 01.04.2013 to 31.10.2013 & would like to deposit the TDS on that interest amount, Is it possible OR in that case I have to deposit the late fee for the first two quarters.
30 October 2013
check the contract when the interest accrue to the unsecured loan
if your contract provides payment of interest on half yearly basis, you can deposit the tds on or before 07.11.2013 with out interest
if your contract provides payment of interest on half yearly basis, you can deposit the tds on or before 07.11.2013 with out interest
30 October 2013
the booking of interest has to be done on accrual basis in line with the terms and conditions of the loan agreement.
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