Tds deduction in case of individual
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2013
SIR
SUPPOSE I TOOK A UNSECURED LOAN FROM MR XYZ WHO IS A INDIVIDUAL FOR 4 MONTH @ 12 % INTEREST P.A , NOW I AM CONFUSED AT THE TIME OF REPAYMENT SHOULD I NEED TO DEDUCT TDS ON INTEREST OR NOT , BECAUSE I AM ALOS AN INDIVIDUAL .
PLEASE HELP ME OUT.
THANKS & RGDS
MUKESH KUMAR
SUPPOSE I TOOK A UNSECURED LOAN FROM MR XYZ WHO IS A INDIVIDUAL FOR 4 MONTH @ 12 % INTEREST P.A , NOW I AM CONFUSED AT THE TIME OF REPAYMENT SHOULD I NEED TO DEDUCT TDS ON INTEREST OR NOT , BECAUSE I AM ALOS AN INDIVIDUAL .
PLEASE HELP ME OUT.
THANKS & RGDS
MUKESH KUMAR
14 October 2013
Sec.194A will not apply if the payer is individual not covered under sec.44AB
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