Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 April 2012
SIR....
Would you please tell me that is it mandatory to deduct tds on interest other than interest on securities if the loan has been taken from a relative.
Rahul Agarwal
Would you please tell me that is it mandatory to deduct tds on interest other than interest on securities if the loan has been taken from a relative.
Rahul Agarwal
13 April 2012
Yes. Individual and HUF are liable to deduct if their turnover or gross receipts from business or profession exceeds the limits specified in section 44AB. In other words, if the individual or HUF is liable to get accounts audited under section 44AB, they would be covered.
Say if Tax Audit applicable in fy 2010-11 they will have to deduct TDS from fy 2011-12.
If tax audit not applicable not required to deduct TDS.
Say if Tax Audit applicable in fy 2010-11 they will have to deduct TDS from fy 2011-12.
If tax audit not applicable not required to deduct TDS.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Eway bill for machinery reparing
- Form 10BD Filling
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Income of an individual
- Applicable TDS for Purchase of Flat from NRI
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
