Tds on intrest

yes tds will come into frame

But interest is not withdrawn by me and it is added to my capital.

Is it a partnership firm wherein you are a partner?

no TDS in interest is required to be made on interest payment done on Capitol account balance.
it is not clear from your question if you are a partner in your dad's firm

No sir it's proprietor...I am taking salary and interest on my capital in his business.

that means you are a partner in his business since you are talking interest on your capital account invested in the business
so no TDS is required

that means you are a partner in his business since you are talking interest on your capital account invested in the business
so no TDS is required

Ok..but does my dad need to deduct TDS on my salary? Total salary 399600 and investment under 80 c and d comes to 168000 approx.

are you working as an employee in his organization

Firstly please note TDS deduction is applicable only when ua Dad firm is under audit u/s 44ab.. In case he is liable to audit, Tds is to be deducted for both

that Provision is applicable only for individual if he has tax audit. for firms they have to deduct tax even if tax audit is not applicable

Ya thats What let him Confirm the type of organization.. I think its a proprietary organization

This enquiry is for AY 2020-21. I am working as employee and ll get salary and bonus of RS. 399600. Also I ll get interest on my capital in the same business of RS. 167318 for entire year. It's a prop concern where my dad is prop. Now pls suggest me if my dad need to deduct TDS on salary and interest. The interest is added back to my capital and not withdrawn. Also can I take standard deduction of RS. 50000 this year. Also we have to go for audit as net profit is below 8 percent.