Treatment of unsecured loan
This query is : Resolved
Charanmeet
(Querist)
28 September 2017
Firm is in the name of wife and husband has taken demand loan from bank and same has invested in the firm of wife as unsecured loan and firm is paying interest of demand loan directly to bank whether TDS is to be deducted on payment of bank interest by firm as loan is shown as unsecured loan
Amol S Joglekar
(Expert)
29 September 2017
interest is in fact paid to husband...... the mode of payment of interest is to directly pay in the bank....
Be aware that the interest is paid to husband and not bank.......although the MODE of payment is to deposit money directly in the bank.....So? TDS is applicable
Be aware that the interest is paid to husband and not bank.......although the MODE of payment is to deposit money directly in the bank.....So? TDS is applicable
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