Interest on Unsecured loan Applicable

Sir

We have a Unsecured loan from 3 party. interest on Unsecured loan Rs. 163000/-needs to pay please suggest TDS on applicable or note we have not a tan number and annual turn over less then 3 Crore
Replies (2)
Quick Summary
This discussion clarifies the applicability of Tax Deducted at Source (TDS) on interest paid for an unsecured loan. It confirms that TDS is indeed applicable, even without a TAN number. For the financial year 2020-21, the TDS rate is 7.5% on the interest amount.

I think TDS u/s 194A will be deducted @ 10% (7.5% subject to conditions if payments are made between 14.5.20 to 31.3.21) on such interest on loan
TDS IS APPLICABLE, IF DON'T HAVE TAN THEN APPLY FOR THAT. TDS TO BE DEDUCTED @ 7.5% FOR THE FY 20-21

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