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Tds on interest in huf

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Sahil (Querist)
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16 May 2014 Respected Sir,

i have an HUF named ABC. I have unsecured loan. plse tell me is it mandatory that interest debited on unsecured loan if the party does not want.

secondly if interest debited is it mandatory that tds dedcuted on interest?

it's urgent .

Sandeep Dharar

Sandeep Dharar (Expert)
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16 May 2014 Yes Interest should b charged on that amount and TDS should also b deducted.

Sahil (Querist)
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16 May 2014 whether the party is individual?
is there any fixed interest rate?
or it is a mutual understanding between the parties?

Sandeep Dharar

Sandeep Dharar (Expert)
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16 May 2014 The rate is fix @10%.

Sahil (Querist)
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17 May 2014 thak you very much sir ji

Sandeep Dharar

Sandeep Dharar (Expert)
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17 May 2014 Sahil convey ur thanks by hitting thanks button.

Well u r welcom.

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