banner_ad

Tds for proprietor

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 December 2013 Dear experts,

If a proprietor maintains separate set of books for proprietary firm and personal books and the firm is subject to tax audit in previous yrs , then any interest paid from personal books is liable for tds?

Thanks in advance.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
02 December 2013 He is liable to TDS as being an assessee under the tax audit provisions,he is legally bound to deduct TDS on any interest payment exceeding Rs 5000/-.
.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 December 2013 But he is taking loan in his personal name and den transferring loan amt in firms books of account. .
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
02 December 2013 Why he is not taking loan in the firm directly ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details