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

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

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

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

06 November 2014 tds shall become applicable from the year subsequent to the year in which turnover crosses 44AB limit

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

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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