Tds under 194a

This query is : Resolved 

12 May 2015 Should TDS be deducted on interest paid on loan taken from SICOM Ltd.? It is a financial institution in which Maharastra government holds 49.07%.

12 May 2015 Yes TDS shall required to be deducted from amount paid as interest to them.

12 May 2015 TDS will be required to be deducted by an individual or HUF only if his or its accounts were audited u/s 44AB in immediately preceding year.


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