Tds on payment of interest on purchases
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2014
TDS need to deduct OR Not for Payment of Rs. 1,77,000 as Interest on Credit Purchases by A HUF Proprietorship Firm?
Supplier says, since it is Proprietorship Firm, there is no need to deduct TDS. But I doubt, Supplier want to take advantage of Ignorance of Buyer.
Will Buyer comes under fault if he does not deduct TDS and deposit to Department in such case?
Supplier says, since it is Proprietorship Firm, there is no need to deduct TDS. But I doubt, Supplier want to take advantage of Ignorance of Buyer.
Will Buyer comes under fault if he does not deduct TDS and deposit to Department in such case?
14 June 2014
Section 194A is not applicable to the referred interest payment.
Citation :- ITO vs. Parag Mahasukhlal Shah (2011) 46 SOT 302.
Citation :- ITO vs. Parag Mahasukhlal Shah (2011) 46 SOT 302.
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