Tds on interest on unsecured loan
This query is : Resolved
26 July 2013
It is a proprietorship firm. In the f.y. 2011-12 it was under tax audit. In the f.y. 2012-13. it was not under tax audit. In current year we paid interest to unsecured loan to an individual for Rs. 15000 in each quarter. Should we deduct TDS on the same? need direction.
Thanks & regards
Thanks & regards
CA PARAS BAFNA
(Expert)
26 July 2013
For the interest from 1.4.2013 onwards no TDS is required to be deducted in such a case.
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