WE HAVE LOAN IN SOME PERSONAL FILES WHICH IS USED FOR OUR BUSINESS ENTITYS BUT THESE PERSONAL FILES ARE NOT AUDITABLE, my question is that shall we required to deduct the TDS on such interest on the loan in personal files.
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Tds on the interest
Replies (2)
Yes, if interest paid by Business Entity (otherwise liable for TDS deduction)
Thanks for reply
The interest paid by industutals.
and the fact is that thses personal files are not Required to get audited in Income tax law, would this fact makes any effect on tds deduction.
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