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Interest of loan other than bank or other financial institut

TDS 224 views 1 replies

Sir,

 

Very Good afternoon

 

I need Clarification for TDS part We are  X Pvt.Ltd Company, we given loan to other Y pvt.ltd  for amount of Rs.90,10,000/- for interest purpose. Y pvt.ltd was interest calculated 998009/- for 2 years (2016-17,2017-18)  the interest amount not paid till date but they are posted in ledger in balance sheet  in actual and interest payable. My question is  Y is posted balance sheet( actula loan and Interest part) ,can we take part in TDS or not ,if not take tds what are effect as per the IT. 

Replies (1)
why you are talking tds part? it is your other income. this income should be included in your p&l. you will have to pay tax on net profit after investments


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