Tds on interest against loan

A.C.PALIWAL (ACCOUNTANT) (28 Points)

24 July 2013  

Sir,

Our company has taken loan of Rs. 20 lac from one individual and Rs. 70 lac from a Partnership firm

I want to know what rate of minimum interest  must be paid.

As we shall pay interest annually, shuld we have to  deduct tds quarterly.

 

Regards,

 

Paliwal