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Tds on interest paid


prashant kulkarni   09 April 2020

prashant kulkarni

 18 points

| My Other Post

I am prorietor of my business and I have taken some loan from my friend on interest.what is limit to deduct TDs on interest paid to my friend.

Vinay Govi   09 April 2020

Vinay Govi

 1 likes  25 points

View Profile | My Other Post

If the interest paid is more than 5000 you are required to deduct TDS @ 10%

avater

rama krishnan   09 April 2020

rama krishnan

 941 likes  10209 points

View Profile | My Other Post

The threshold limit for tds on interest is 5000. however, since you are a individual, the liability to deduct TDS arises only if the total turnover or sales of the immediately preceding previous year exceeds 1 crore

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