Tds on loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 May 2015
DEAR SIR/MADAM,
I WANT TO KNOW THAT MY FIRM HAS TAKEN AN UNSECURE LOAN FROM MANY INDIVIDUAL PERSON AND HUF, AND OUR FIRM PAY THEM INTEREST ON THAT PARTICULAR LOAN AMOUNT.
MY QUERY IS SHALL OUR FIRM DEDUCT TDS AGAINST THE INTEREST PAID TO THEM, IF YES UNDER WHICH SECTION OF IT ACT I WILL FALL.
WHAT IS THRESHOLD LIMIT TO DEDUCT TDS ON INTEREST.
THANK YOU IN ADVANCE.
I WANT TO KNOW THAT MY FIRM HAS TAKEN AN UNSECURE LOAN FROM MANY INDIVIDUAL PERSON AND HUF, AND OUR FIRM PAY THEM INTEREST ON THAT PARTICULAR LOAN AMOUNT.
MY QUERY IS SHALL OUR FIRM DEDUCT TDS AGAINST THE INTEREST PAID TO THEM, IF YES UNDER WHICH SECTION OF IT ACT I WILL FALL.
WHAT IS THRESHOLD LIMIT TO DEDUCT TDS ON INTEREST.
THANK YOU IN ADVANCE.
16 May 2015
Yes TDS should be deducted u/s 194A @10% if threshold limit of Rs 5000/- p.a. per deductee is crossed.
Message likes :
1 times
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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Copyright software
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
