Director or partner can deduct tds on interest?

Lalit Sangani (M.Com. Asst. Manager Account)   (731 Points)

29 December 2012  

Dear All,

Whether a director of company or partners of firm has paid  Interest on loan, then my query is below regarding deductor as a individual not deductor as a compnay :

1. At the time of payment of Interest, can he deduct TDS on Interest. 

2. if he can deduct TDS, than TAN no. should be  necessory for individual deductor, which will be require for TDS return.