TDS on Interest
This query is : Resolved
04 January 2010
Dear Expert,
we have taken a security deposit from individuals (formers) @18% interest.
the interest amount exceeded the exemption limit of Rs.5000/- as per Sect 194 A (TDS on interest from other than banking company).
if we deduct the tds from such interest portion, normally we give TDS certificates.
but the certificate is not useful to the formers whose income is less than the maximum exemption limit.
my doubt is whethere is there any form which can restrict us for not deducting the tds on such interest?
we have taken a security deposit from individuals (formers) @18% interest.
the interest amount exceeded the exemption limit of Rs.5000/- as per Sect 194 A (TDS on interest from other than banking company).
if we deduct the tds from such interest portion, normally we give TDS certificates.
but the certificate is not useful to the formers whose income is less than the maximum exemption limit.
my doubt is whethere is there any form which can restrict us for not deducting the tds on such interest?
04 January 2010
you can obtain form 15G, 15H from your depositers.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
