Tds applicability of 1st year of tax audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2013
one of my client is in proprietary business, it's turnover is 9 cores in f y 2012-13 as it is coming under tax audit for the first time.i want to ask that whether payment of interest on unsecured loan will attract TDS provision. pl tell me rates of TDS if any
04 May 2013
No, as TDS provisions on payment of interest on unsecured loans will be attracted only when there is tax audit conducted in the last year of the firm.
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