Unsecuerd loan

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72 Points Posted on 31 March 2021
sir,
I take 400000/- from realative as unsecured loan @ 5% interest.
how I will pay installment. is there tds applicable.
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On 31 March 2021 at 11:40 Report
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Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) applies to unsecured loans taken from relatives. Generally, TDS is not applicable for individual-to-individual loans. However, if the loan is for business purposes and the business turnover exceeds Rs. 1 crore, TDS might be applicable. The query also touches upon how to manage loan instalment payments.

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17269 Points Posted on 31 March 2021
Individual to individual no TDS
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On 31 March 2021 at 11:54
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2742 Points Posted on 05 April 2021
TDS is not applicable, unless you have taken it business and business turnover exceeds Rs. 1 cr
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On 05 April 2021 at 14:24
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Chartered Accountant
24588 Points Posted on 05 April 2021
No TDS will be applicable
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On 05 April 2021 at 14:29

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