TDS u/s 194A

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23 Points Posted on 11 June 2020
An individual assessee not having any business income, and not liable to Audit U/S 44Ab will pay interest on unsecured loan amounting to Rs 5lakhs in FY 2020-21.
Is he liable to deduct TDS ?
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On 11 June 2020 at 15:04 Report
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Quick Summary
This discussion clarifies whether an individual taxpayer without business income and not liable for audit under Section 44AB needs to deduct TDS on interest paid for unsecured loans. The consensus is that such an individual is not required to deduct TDS under Section 194A for the financial year 2020-21.

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Student
1321 Points Posted on 11 June 2020
No he isn't liable
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On 11 June 2020 at 15:26
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Profession
28269 Points Posted on 11 June 2020
This is audit checklist point.
however ok
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On 11 June 2020 at 15:34
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23 Points Posted on 11 June 2020
Audit checklist point ?? Sir please elaborate
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On 11 June 2020 at 20:44
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12244 Points Posted on 12 June 2020
No he's not required to deduct tds
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On 12 June 2020 at 01:40

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