Tds u/s 194a
This query is : Resolved
20 October 2011
Sir,
Suppose, I have taken a loan of Rs.10,00,000/-
my emi is as under
Pri. Amt. Interest Install. Amt
10000 6500 16500
my question is that,
on interest i have to deduct TDS 10%
i.e. 650/-
but sir rs.16500/- have been deducted from my bank account in every month.
TDS of 10% is extra burdon on me.
sir pls tell me in my books of account how should i passed this entry for repayment and TDS
Its urgent
Suppose, I have taken a loan of Rs.10,00,000/-
my emi is as under
Pri. Amt. Interest Install. Amt
10000 6500 16500
my question is that,
on interest i have to deduct TDS 10%
i.e. 650/-
but sir rs.16500/- have been deducted from my bank account in every month.
TDS of 10% is extra burdon on me.
sir pls tell me in my books of account how should i passed this entry for repayment and TDS
Its urgent
20 October 2011
LOAN A/C DR 10000
INTEREST A/C DR 5850
TDS PAYABLE DR 650
TO BANK A/C 16500
AS PER LAW IF YOU TAKEN LOAN FROM BANK ..THEN THERE IS NO OBLIGATION TO DEDUCT TDS ON PAYMENT MADE TO BANK FOR INTEREST PAYMENT. SO PLEASE DON'T DEDUCT TDS
INTEREST A/C DR 5850
TDS PAYABLE DR 650
TO BANK A/C 16500
AS PER LAW IF YOU TAKEN LOAN FROM BANK ..THEN THERE IS NO OBLIGATION TO DEDUCT TDS ON PAYMENT MADE TO BANK FOR INTEREST PAYMENT. SO PLEASE DON'T 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
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- NRI INSURANCE ADVISOR
- TAX AUDIT QUESTION
- Reporting in TDS return
- Due Date Clarity
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- 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
