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Tds deducte on secured loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 DEAR ALL,

MY CLIENT HAS NOT TAN NO., AND HE TAKE SECURED LOAN FROM TATA CAPITAL , HE DO NOT DEDUCT TDS UNDER 194 A AND NOT DEPOSIT,

IS IT IS NECESSARY TO DEDUCT TDS AND DEPSOIT

PLEASE SUGGEST ME SAVE IDEA FROM AVOID FROM DISALLOW THE EXPENSE OF INTEREST PAID

THANKS IN ADVANCE
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 what is the constitution of your client...
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 IN RAJASTHAN DISTT SHRI GANGANAGAR

PROPRIETORSHIP FIRM
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 so you need to deduct tds on interest if the turnover is in excess of turnover mentioned clause (a) and (b) of section 44AB
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 DEAR SIR,

YOUR MEANS NOT NEED IF TURN OVER UNDER 1 CRORE AND NEED IF ABOVE 1 CRORE
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 yes. if your client is into business...if he is a professional, then turnover limit shall be Rs 25 lakhs...
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 THANKS A LOT OF FOR HELP ME AND HOPE CONTINUE YOUR THIS GOODNESS
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 LAST QUERY WITH CONTINUE THAT IF MY CLIENT T.O. CROSS 1 CRORE IN PAST AND NOT TDS DEDUCT , WHAT DO NOW AND FUTURE FOR SAVE

THANKS
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 tds shall become applicable from the year subsequent to the year in which turnover crosses 44AB limit
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 tds shall become applicable from the year subsequent to the year in which turnover crosses 44AB limit
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2014 PLEASE CALCULATE PENALTY IF LAST YEAR F.Y. 2012-13, INTEREST AMT, 600000 AND TDS AMT 60000 BUT NO DEDUCT AND NO DEPOSIT
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 November 2014 please do that yourself...use this forum to ask doubts, not as a replacement to your own efforts...
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