Tds on unsecured loans

MY FATHER EXPIRED ON 26/2/2015.COMPANY WAS UNDER PROPRIETORSHIP UNDER HIS NAME. 

AFTER HIS DEATH, I AM NOW PROPRIETOR. PLEASE GUIDE AS PER 26/2/2015, WHEN SHOULD I

DEPOSIT THE TDS ON INTEREST ON LOANS TAKEN IN COMPANY. PLEASE CONFIRM.

 

Replies (2)

Hi Friend, 

As per your post, u r father has taken loan with paying intt. Pl note, if u r paying monthly intt to  them it means either u are issuing cheque then u have to deduct TDS and pay in next month by 7th OR if u r taking only intt provision in u r books of account, in second case on provision base u have to deduct TDS and pay next month

 

 

Hi, Ankur.
 

The TDS deducted on interest should be paid before the 7th on subsequent month. So, the TDS deducted on 26th Feb should be deposited on 7th of March 2015.  

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