Tds on unsecured loans
This query is : Resolved
siva krishna
(Querist)
07 January 2011
Dear Experts,
My company has given Rs 7,50,000.00 as un-secured loan in may 2008 now the party has repaid the same in 2 installments one in dec 2010 and other in Jan 2011 now what my doubt is on this amount how can we calculate interest and from which date it is to be calculated and the interest is simple interest can any one please solve this and determine the interest amount it is very urgent
Thanks in advance to Experts
My company has given Rs 7,50,000.00 as un-secured loan in may 2008 now the party has repaid the same in 2 installments one in dec 2010 and other in Jan 2011 now what my doubt is on this amount how can we calculate interest and from which date it is to be calculated and the interest is simple interest can any one please solve this and determine the interest amount it is very urgent
Thanks in advance to Experts
07 January 2011
Interest is to be calculated from the date of loan given till the date of repayment and the same is to be charged as per the rate agreed between the parties and the interest can be simple interest or compounded. For TDS on interest the same needs to be deducted @ 10% on accrual basis at the end of the financial year.
Interest amount 750000*50/100*33/12*12/100
750000*50/100*34/12*12/100
Interest amount 750000*50/100*33/12*12/100
750000*50/100*34/12*12/100
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
