Sir i want to reconfirm for the following
If company has given interest on unsecured loan u/s 194A
to individual then rate of TDS to be deducted by company is
10.3% subject to Surchargeto be levied.
the said rate is correct that please confirm
if in current financial year if interest payable to indiviual is less then Rs. 5,000/- then whether company has to deduct TDS or not? please help me on that matter.
Thanks
Manoj Asher
since deductee is ind. and amt. payable to him is below the limit of 5000 there is no t.d.s. is reqired to be deducted
ya rate was correct but from 1.10.2009 rate is 10% no surcharge or cess applicable
if the amount is lessthan 5000/- tds not applicable
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