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.
Individuals are liable to deduct tds u/s 194A only when they were liable for tax audit in the previous financial year.
Yes, obviously . If one is liable to deduct TDs then he has to apply for TAN No.
Yes, definately TAN is requiared for individual, who want to deduct TDS and for Return......!!!!
The Individual deductor should apply for TAN.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
