TDS on Interest Amount
This query is : Resolved
29 October 2010
Can i as an individual tax-filler pay interest for a loan to another individual or HUF without deducting TDS amount and still claim the interest paid as expenses in my P&L statement. All parties involved in the above transactions are below audit limit.
29 October 2010
for Individual TDS clause will applicable only in the precedding year his turnover exceeds the Tax audit limit
so in the above case no probelm
so in the above case no probelm
29 October 2010
The turnover in case if the individual is engaged in the buiness. If Income of a person other then business exceeds beyond Rs 40/60 Lac, still he is not liable to deduct TDS from laon given to any other person
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