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Tds

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(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???
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
02 May 2014 well you still have to deduct TDS as 194A provides no exemption for personal use unlike 194c.
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Rupesh Jain

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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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