TDS ON INTEREST PAID TO PARTNERS

This query is : Resolved

rajesh (Querist)
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05 March 2010 DEAR MEMBERS

1. INTEREST PAID TO PARTNERS IN PARTNERSHIP FIRM TDS DEDUCTABLE OR NOT?

2. COMPANY RECEIVED UNSECURED LOANS FROM DIRECTORS. WHEN LOAN REPAYMENT TIME INTEREST IS PAYABLE OR NOT IF INTEREST IS PAYABLE IS IT COMPULSORY FOR TDS DEDUCTION ON THIS INTEREST AMOUNT.

ITS VERY URGENT

PLEASE TELL

THANKS IN ADVANCE

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 March 2010 Dear Rajesh,

Interest on loan paid to partners in Partnership Firm will attract TDS @10%.

Further, Interest on loan is required to be paid to directors after deduction of TDS @10%. If TDS is not deducted the interest amount will be disallowed.

Best Regards

rajesh

rajesh (Querist)
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05 March 2010 THANKING YOU SIR

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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05 March 2010 WELCOME.

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