Tds on interest of unsecured loan

DEAR HELPDESK,

BEING AN INDIVIDUAL A PERSON HAD INVESTED RS.70,000/- (UNSECURED LOAN) IN A PROPRIETORY FIRM, MY QUESTION IS THAT SHOULD I AM LIABLE FOR THE TDS ON THE INTEREST ? ALSO WHAT AMOUNT TDS IS LIABLE ? WHEN & HOW  IS TO BE CLAIM TDS?

 

PLEASE REVERT AS SOON AS POSSIBLE.

LOVENDEEP SHARMA

Replies (1)

Liability to deduct tds u/s. 194A for an individual/HUF arises only if s/he was liable to audit u/s. 44AB in preceeding financial year.

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