TDS on Interest paid to Partners on their loan A/c.
This query is : Resolved
Ranjan Chavan
(Querist)
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?
Aditya Maheshwari
(Expert)
27 July 2010
No as Section 194A is not applicable if interest is credited to the partner of a firm..
27 July 2010
Beg to disagree with Aditya Ji TDS is required to be deducted if interest is paid on loan to a partner as mentioned by Ranjan Ji. If interest is paid on partners capital then TDS is not required to be deducted.
Aditya Maheshwari
(Expert)
27 July 2010
similar query by the same person
https://www.caclubindia.com/experts/tds-on-interest-paid-to-partners-on-their-loan-a-c--443515.asp
https://www.caclubindia.com/experts/tds-on-interest-paid-to-partners-on-their-loan-a-c--443515.asp
10 August 2010
Tax not to be deducted on interest paid by firm to partners, whether on loan or capital.
10 March 2019
No need to deduct tax per section 194A(3)(iv).
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