Dear All, Kindly help.....
My Query relates to section 194A & sec 40(a).
One assessee (Partnership Firm) has borrowed loan from a Senior Citizen. The amount of interest paid on loan is 2 lacs approx. Further, firm has obtained form 15H and hence not deducted TDS on above mentioned interest amount.
Now my query is whether the said exemption of non deduction of TDS in case of Form 15H is available to Every assessee or just to Banking/Cooperative Societies.
Kindly reply ASAP.
CAclubindia
