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?
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?
yes you can deduct tds u/s 194 on interest threshold limit is Rs.5000/-
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.
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...
| Originally posted by : Karan Teli | ||
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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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Mr. Sanjay and Karan both are right
| 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... |
|
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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