Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2015
Whether TDS is to be deducted wide section 194A on interest paid to customer on trade advances received from such customer?
Please give me detail reference of provision.
Please give me detail reference of provision.
13 July 2015
Yes if interest paid is more than Rs. 5000/- and your accounts were audited u/s 44AB clause (a) i.e. on account to turnover exceeding Rs. 1 crore in the immediately preceding year in case of individual or HUF. In case of firm or company always mandatory whether tax audit or not.
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