06 March 2010
I am a Business Man & I have Unsecured Loans from my relatives(Pan is not alloted) 1,00,000/- & i passed an journal entry in books against interest 12,000/- I will not paid this amount in this AY 2009-2010. So pls tell me in this case TDS is applacible.
07 March 2010
Dear Gupta As Interest Payment or Credit which ever earlier is in excess of Rs.5000/- so you are required to deduct TDS u/s 194A But if your relative's total income is less than Basic Exemption limit then you may not required to deduct TDS as your relative can issue Form 15G/15H
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