Tds
This query is : Resolved
Mahendra Makhija
(Querist)
01 May 2014
If an aseesee is a proprietor in a business which was audited in last year. He pays interest on loan to a party. Such Loan is utilised by him for his personal purpose on such Loan. Is he required to deduct TDS on such interest???
Nikhil Kaushik
(Expert)
02 May 2014
well you still have to deduct TDS as 194A provides no exemption for personal use unlike 194c.
Rupesh Jain
(Expert)
02 May 2014
you have to dedut TDS on intt if limit of intt exceeds Rs. 5000/- in a year per person.
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