Tds on laon given by the partners
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2015
whether TDS will be deducted on interst on loan given by the a partner to partnership firm.
i have read that TDS non deduction on interest on partner capita.
i have read that TDS non deduction on interest on partner capita.
27 December 2015
TDS not applicable on interest paid by partnership firm to partner.
Refer section 194A(3)(iv) of Income Tax Act 1961.
Refer section 194A(3)(iv) of Income Tax Act 1961.
CA Kumar Mukesh
(Expert)
28 December 2015
Agree with Sanjay suggestion... however in case partner is Non Resident TDS require to be deduct on Interest on capital under section 195..
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