Tds on interest of unsecured loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 September 2014
while auditing ledgers of unsecured loan of parties interst is paid to them on quarterly basis but on the interest amount tax was not deducted under 94 A. Does it attract any penalty.
02 September 2014
yes as int is deductible so int is leviable
Message likes :
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02 September 2014
Interest will have to be paid @ 1% per month or part thereof, on short deduction of TDS.
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