Should I deduct & pay TDS on interest on loan at the time of its payment? We are private limited co.. we have repaid loan taken from one of the partner and now there is no due remaining to him. Should I deduct interest & TDS on it & pay the same? we make payment of loan on 01.08.2012
As per section 194 A TDS should be deucted for interest other than interest on securites so you are liable to pay tds on interest amount paid to him
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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