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tds on interest on unsecured loans

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(Querist)
23 October 2009 In case of a private limited company, is tds required to be deducted in case of payment of interest on unsecured loans?

loan taken from shareholder & directors of the company.
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
23 October 2009 Loan taken from whom ? The type of lender is deciding factor, secured or unsecured is not the deciding factor.

Interest paid on lan taken from Bank,Public Financial Instutions, Credit Co-operative society etc is not subject to TDS.
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Badri Kharat

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Badri Kharat (Expert)
23 October 2009 yes,

t.d.s is mandatory




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