Tds

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Dipen Thakkar (Querist)
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14 April 2015 My unsecured loan of Rs. 500000 on 31/05/14, now i pay 250000 dated 21/08/14 & difference amt pay as 250000 dated 28/02/15, now i m liable to deduct tds on Int.amt but confused that am i liable to deduct tds on 28/02/15 (single) or 31/05/14 & 28/02/15 (2 times)?

Thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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14 April 2015 There is no deduction on repayment of loan.
.
TDS is to be deducted on the date of payment or credit of interest, whichever is earlier.
.
However, if interest is yet not paid, Interest can be credited on 31.03.2015 and accordingly TDS can be deposited on or before 30th April.
.

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Rupesh Jain

Rupesh Jain (Expert)
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14 April 2015 tds applicable on the amount if your intt amount exceeds rs. 5000/- in a year. and tds amount will be deducted credited the a/c or make payment whichever is earlier.

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Dipen Thakkar

Dipen Thakkar (Querist)
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28 April 2015 Dear Expert,

my mother having income of commission from lic, now i want to ask which itr form to be filed to get refund?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 April 2015 For commission Income ITR 4 is applicable.

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