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TDS RATE ON UNSECURED LOAN INT
I AM ONE OF THE DIRECTOR IN DOMESTIC COMPANY.I HAVE GIVEN UNSECURED LOAN TO THE ABOVE COMPANY ABOUT Rs.2000000/ FOR THAT THE COMPANY HAVE PAID INTEREST TO ME EVERY MONTH.TDS TO BE DEDUCTED IN THAT AMOUNT OR NOT.THEN THRESHOLD LIMIT IS HOW AND WHICH RATE OF RATE OF TDS DEDUCTED.
Replies (1)
In your case TDS must be deducted us 194A by company at the time of payment/credit of interest. The amount of TDS will be 10% of the Interest amount.
The threshold limit for tds deduction under this section is RS. 5000 in a year.
The threshold limit for tds deduction under this section is RS. 5000 in a year.
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