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Tds

Rahul (0) (32 Points)

12 April 2012

Hellow ,

Would you please tell me that is it mandatory to deduct tds on interest other than interest on securities if the loan has been taken from a relative.

Rahul Agarwal

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7 Replies

Rahul Sharma (Practicing Chartered Accountant) (131 Points)
Replied 13 April 2012

Yes, if the amount of interest paid during the year is greater than Rs.5,000/- and if you if tax audit is applicable to you, in case of individual.

Vinod Ram (C A) (165 Points)
Replied 13 April 2012

Hi Rahul,

What a coincidence that I was having similar troubles. Then, I did some research online and found a great website that cam handy. Sharing the link here: https://bit.ly/money-finance. Do go through, it is quite elaborate.

KARANDEEP,CA,B.Com,CS FNL (JOB) (457 Points)
Replied 13 April 2012

Agree with Rahul Sharma ji..

CA PRAVEEN SINGH (MANAGER ACCOUNTS) (2277 Points)
Replied 13 April 2012

Yes, if the amount of interest paid during the year is greater than Rs.5,000/- and if you if tax audit is applicable to you, in case of individual.

C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.) (1823 Points)
Replied 13 April 2012

agree with C.A. Pravin Singh

Narendra Bandhankar (Sr. Accounts Executive (Finance)) (28 Points)
Replied 13 April 2012

dear sir,

we pay RENT for hiring a CISCO Router yearly. It is a machine used in IT Dept. for network/Wi-Fi access. is TDS applicable u/s 194C OR 194I. pls. advise me.

thnx/

Narendra Bandhankar.