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Tds on interest paid
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.
Replies (4)
If the interest paid is more than 5000 you are required to deduct TDS @ 10%
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
What is last date to file revise income tax return for f.y.19-20
Last date to file revise return for a.y.2020-21 is 31st March 2021
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