tds on interest
This query is : Resolved
08 July 2010
our pvt. ltd. company was dealing in shares in 2009-10.
the broker charged interest of rs. 800,000/- from us on due from us.
are we liable for TDS.
if yes plz give any ref. if possible
the broker charged interest of rs. 800,000/- from us on due from us.
are we liable for TDS.
if yes plz give any ref. if possible
08 July 2010
Yes. If your file is under tax audit you will have to deduct TDS u/s 194A.
Sunil Kr. Sanganeria
(Expert)
08 July 2010
You are liable to deduct tax u/s 194A of the Income Tax Act whether you fall under Tax Audit or Not.
08 July 2010
Sorry i made that tax audit point as i overlooked pvt. ltd. and thought it is for individual.
Anyways since you are paying interest it will attract TDS u/s 194A. It is applicable even if you pay to financial company.
Anyways since you are paying interest it will attract TDS u/s 194A. It is applicable even if you pay to financial company.
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