TDS

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account manager
777 Points Joined February 2011

We are  Paid This Year(F.y 2010-11) Interest on Unsecured Loan Rs. 20000.00 ( Mr. Amal 15,000 & Mr. Tamal 5,000) then can We deduct TDS Or Not?

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On 23 February 2011 at 13:14 Report
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Learner
3134 Points Joined September 2009

yes you can deduct tds u/s 194 on interest threshold limit is Rs.5000/-

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On 23 February 2011 at 13:19
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"PROUD TO BE AN INDIAN"
114245 Points Joined February 2009

Sec 194A-Interest other than from a Banking Co.


You can deduct TDS from Mr. Amal (10% of Rs 15000/- = Rs 1500).

You can not deduct TDS from Mr. Tamal as threshold limit of Rs 5000/- is not crossed.

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On 23 February 2011 at 13:20
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Life Is just an Illusion...!!
4573 Points Joined August 2010

TDS @ 10% needs to be deducted to Mr. Amal since the limit of Rs.5000/- is crossed and no TDS on Mr. Tamal needs to be deducted...

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On 23 February 2011 at 13:36
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Chartered Accountant
359 Points Joined November 2008
Originally posted by : Karan Teli

TDS @ 10% needs to be deducted to Mr. Amal since the limit of Rs.5000/- is crossed and no TDS on Mr. Tamal needs to be deducted...
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On 23 February 2011 at 14:43
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CA. IN PRACTICE
89 Points Joined May 2009

Mr. Sanjay and Karan both are right

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On 23 February 2011 at 17:41
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Originally posted by : Karan Teli

TDS @ 10% needs to be deducted to Mr. Amal since the limit of Rs.5000/- is crossed and no TDS on Mr. Tamal needs to be deducted...
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On 23 February 2011 at 20:52
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Proud Indian
142 Points Joined October 2007


TDS @ 10% needs to be deducted to Mr. Amal since the limit of Rs.5000/- is crossed and no TDS on Mr. Tamal needs to be deducted

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On 23 February 2011 at 20:59


CCI Pro

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