Tds on interest on unsecured loan
This query is : Resolved
25 July 2013
My firm is proprietorship firm. Last year it was under audit. In year 2012-2013 we paid interest on "unsecured loan from an huf" for rs. 45000. Should we deduct TDS & why? Need direction.
Thanks in advance
Thanks in advance
25 July 2013
You should deduct TDS u/s 194A @10% since Tax Audit was applicable to you in Preceding Previous Year. Exemption from deduction of is only available to Individual/HUF when no Tax Audit is applicable.
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