TDS
This query is : Resolved
08 December 2019
I have take a loan from a friend Rs. 15,00,000 @ 12 p.a. now while paying interest do i have to deduct T.D.S and pay interest. Also what is the procedure i need to follow as per law from any form filling or depositing with government etc.
Please explain the whole process from scratch.
Please explain the whole process from scratch.
Ayush Agrawal
(Expert)
08 December 2019
Require to deduct TDS under section 194A at the rate in force..... an individual not covered under this section unless the individual covered under tax audit provision for respective assessment year.
04 January 2020
i have take loan on my individual name for personal use and i have to do no audit also. so i should pay 12% interest directly to my friend without deducting TDS?
26 May 2020
No need to deduct any TDS
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