Tds on interest on partners loan (current account)
This query is : Resolved
15 March 2018
Good morning all,
Is TDS need to be deducted if firm pays Interest on Partners Loan (Current A/c)?
Please clarify me section 194A(3)(iv)
Is TDS need to be deducted if firm pays Interest on Partners Loan (Current A/c)?
Please clarify me section 194A(3)(iv)
CA R SEETHARAMAN
(Expert)
15 March 2018
The provisions of section 194A do not apply to interest credit or paid by a partnership firm to its partners. Thus, in this case, the firm is not liable to deduct tax from interest paid to partners.
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- RCM and same line
- TDS Return Statement Status
- 18% Rent a cab
- ARCA LOGIN
- Closer of business and itc of capital goods
- Rectification under processing even after 6 months cpc portal
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
