Dear Sir
please suggest we have to pay interest on unsecured loan to individual.Individual has no other income we don't have Tan number.Can we pay 24000 interest to individual person Tds is mandatory or not.how much amount we have pay without deduction of TDS
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Interest unsecured loans
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Quick Summary
What's your turnover in last year
Sir
previous year 2019-20 turn over 1 crore 18 Lacs and this year 2020-21 around 2.50 crore
previous year 2019-20 turn over 1 crore 18 Lacs and this year 2020-21 around 2.50 crore
Yes TDS should be deducted u/s 194A @ 7.5%
Sir Can we pay interest without deduction of TDS
No, you have to deduct tds , if interest exceeds Rs. 5000
TDS should be Deducted
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