Dear Sir,
Please help me to understand below query.
We have taken loan amount of 2 crore from NBFC. And we deduct TDS under section 194A when we paid interest on that loan.
My main question is, Can I deduct TDS on accrued interest as on 31st March.
please suggest.
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TDS on Accrued interest by the Pvt. Company.
Replies (4)
Yes. You have to deduct tax on accrued interest as well. Because the section states that tax is deductible at the time of crediting income to such account or at the time of payment, whichever is earlier.
Thanks
Check the rule for Individual Assesee(if you are) not comes u/s 44AB - For Sec.194A.
TDS XVIIB -Normally attracts for payments -due or receipt - whichever is earlier.
If, due comes 1st, Not deduct on the due basis, deduct on receipt basis as well.
TDS XVIIB -Normally attracts for payments -due or receipt - whichever is earlier.
If, due comes 1st, Not deduct on the due basis, deduct on receipt basis as well.
Thanks
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