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Tds , interest on partners capital

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Querist : Anonymous

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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,
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CA PARAS BAFNA

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

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

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

Tds not required to be deducted on interest on capital to partners.
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ADVOCATE YOGESH NARANG

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