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)
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.
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