Tds form 15g acceptance

This query is : Resolved

kd (Querist)
Follow

27 August 2014 Please guide me in the following case:

A proprietor takes loan for business from his son, credits interest on the said loan to the account of his son in his books, the interest amount is >rs10,000. The son submits form 15G to the proprietor. the proprietor does not deduct TDS. Tax Audit is applicable to the proprietor.

Can the proprietor accept form 15G?

Is he correct for non deduction of TDS?

If yes, then what is the time by which he shall submit form 15G to the Income Tax department?

(the basic gist here depends on whether an individual can accept form 15G while paying interest other than interest on securities)
Your feedback and answer to the above case & querries is required ASAP. Thanks in advance.

Rupesh Jain

Rupesh Jain (Expert)
Follow

27 August 2014 if you are credit the intt. with in year one time on 31.3.20.... then you have to submit with in 7 days from receiving the form with commissioner of income tax on his area.

Rupesh Jain

Rupesh Jain (Expert)
Follow

27 August 2014 if you are credit the intt. with in year one time on 31.3.20.... then you have to submit with in 7 days from receiving the form with commissioner of income tax of his area.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rampal Saini

Vijay Mishra

SUBHASH SAHA

Vinod Dharwarkar

R Prabhudoss

Subscribe Now

Tds form 15g acceptance

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

CA Final

Manager- Finance and Compliance

Accountant

GST CONSULTANCY