TDS on Interest paid to Partners on their loan A/c.
This query is : Resolved
27 July 2010
Is is necessary to deduct the TDS on the interest paid/provided on the loan from partners in the Partnership Firm u/s 194A?
27 July 2010
YES ,TDS IS TO BE DEDUCTED ON LOAN INTEREST . OTHERWISE EXPENDITURE WILL BE DISALLOWED.
27 July 2010
YES, TDS WILL BE DEDUCT ON INTERST PAID ON LOAN BY PARTNERS.
BUT TDS WILL NOT BE DEDUCTED ON INTREST ON PARTENR CAPITAL.
BUT TDS WILL NOT BE DEDUCTED ON INTREST ON PARTENR CAPITAL.
27 July 2010
agreed with mr. bansal tds is applicable on intt on loan but it is not applicable on intt on capital
Message likes :
1 times
27 July 2010
As per 194A(3)(iv) income tax need not be deducted.
03 August 2010
I agree with Mr B. Chakrapani Warrier, that as per S. 194A(3)(iv) the provisions of S. 194A(1) does not apply to such income as may be credited or paid by a firm to a partner of the firm.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Eway bill not cancelled within 24 hous what can be due
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
