Tds


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
10 January 2013 If an individual taken a loan and paying interest of Rs. 75000, is he required to deduct TDS?
And he also have a proprietorship business which is audited u\s 44AB.

13 January 2013 Yes sir, he is required to deduct TDS.
.


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
14 January 2013 But Paras sir loan is taken for personal purpoae not for business use..

14 January 2013 In such a case you are not claiming the expenditure and question of disallowance of
interest gets resolved here.
.
But, in my view, the liability of TDS still remains as the provision of Section 194A(1) makes responsible to the payer of income towards the amount paid or credited to the payee. It is irrespective of interest claimed or not claimed as an expenditure.
.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details