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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2018 a person '' Ä'' (TDS provisions applicable) having an opening Credit balance as on 1st April 6.00 Lakh as unsecured loan from "B"
on 1st June " Ä" makes a payment of 7.00 lakh to 'B'
Assumes 1.00 Lakh as Loan given to "B'

What does the TDS provision say
TDS Liability arises or not ?


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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 July 2018 TDS provisions not applicable on loans received and paid.
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Tony John

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Tony John (Expert)
31 July 2018 TDS is not applicable



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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2018 Will the extra payment of 1 lakh after squaring up of initial loan amount not to be taken as consisting of interest due till date ?

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