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Tds on interest paid.

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19 June 2013 Dear Sir/Mam,

Partner of a firm has raised loan from a bank against his property for business purposes. The funds so raised have been inducted as his capital in partnership firm and interest paid by him to the bank has been reimbursed to him by the firm.

Will the interest payment attract provisions of TDAS ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
19 June 2013 No it will not attract the TDS provisions.
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