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TDS relate to individual

Others 585 views 1 replies

If individual is Paying Interest on Loan Taken, is he Required  for TDS ??

The answer will be same for individual who is proprietor of  Buisiness whose account is Audited?? 

Replies (1)

First , for those individuals who are carrying on  Business or Profession, the concept of TDS LIABILITY will arise.  

For others individuals, TDS topic is irrelevant.

So, if that proprietor has Turnover of Rs.40 lacs in case of business  in the preceeding financial year, then he is obliged to deduct TDS subject to the Qualifying amount and others.


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