Friends, 1. Interest paid to partner for loan taken by partnership firm, is TDS is deductable on such interest?
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TDS on Interest
Replies (5)
It will attract TDS. Loan taken from Partner or any body else does not matter.
ya
Interest made to partner attracts TDS
otherwise it is a non compliance of TDS
yes, TDS will be attract on Interest on loan . Whether loan taken from partners or from anywhere. Tds u/s 194 A will be attract.
1. TDS under section 194A does not apply to interest paid to partner in a firm as per section 194A(3)(iv)
Does the section refered by Mr. Srikanth apply to interest on loan? It appears that the said section apply to interest on capital only and to loan
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