Tds on interest to financial institutions
This query is : Resolved
08 June 2015
I have a client who has taken loan from various financial institutions and the loan is repaid via emi based ecs deductions, the party is a proprietor under Income tax Audit does he have to deduct TDS on such interest paid to the financial institutions
09 June 2015
If the Loans are made for the Purpose of Business and not for personal nature then TDS should be deducted @10 u/s 194A. If, in case loan is made for personal nature then no need to deduct TDS.
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- TAX AUDIT QUESTION
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Banking Related Issue
- Average Cost Of High Quality Diamonds
- ITR-3 File/Error Found
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
