Tds , interest on partners capital

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2011 IN PARTNERSHIP BUSINESS TDS REULES WILL BE APPLICABLE OR NOT ON THE INTEREST ON CAPITAL BY PARTNERS .

THANKING YOU,

CA PARAS BAFNA (Expert)
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18 December 2011 TDS provisions are not applicable on Interest payable to Partners by the firm.

CMA. CS. Sanjay Gupta (Expert)
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18 December 2011 No TDS deduction required on interest paid to partners capital (Vide Section 194A(3)(iv) of the Income Tax Act, 1956)

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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18 December 2011 Agreed with all experts

Tds not required to be deducted on interest on capital to partners.

ADVOCATE YOGESH NARANG (Expert)
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20 December 2011 yes, agree with all above

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