please tell me what is the rules for deducting tds on unsecured loan.
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Tds on unsecured loan
Replies (6)
Tds will be deducted only when interest on unsecured loan is paid to the party and that is also more than the threshold limit.
sir, if interest amount is 5000 then we will deduct tds or not? & what is the rule of 15G ?
No tds will be deducted if interest amount is 5000, TDS will be deducted only when interest amount exceeds 5000.
Conditions you must fulfill to submit Form 15G:
- You are an individual or HUF
- You must be a Resident Indian
- You should be less than 60 years old
- Tax calculated on your Total Income is nil
- The total interest income for the year is less than the minimum exemption limit of that year, which is Rs 2,50,000 for financial year 2017-18.
thnx for the reply
Hello, I am Proprietor and i have unsecured loan amounts to 1470000 and I am paying interest amounts's to 22500. Please clarify me whether TDS will affect or not for the interest payment
How to calculate tds on unsecured loans, sometimes amount will received with different dates, can i calculate total amount
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