Poonawalla fincorps
Poonawalla fincorps

Tds deduction in partnership firm

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(Querist)
13 September 2015 Is it exemption for a partnership firm (1st year) to deduct TDS for Interest paid. Please note that no tds deducted in f/y 2014-15 whereas interest paid more than 5000 in that year and the Audit is not yet competed.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
13 September 2015 No exemption. If interest paid is more than Rs 5000/- then TDS required to be deducted u/s 194A.
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Mukesh

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Mukesh (Querist)
14 September 2015 Thx for the reply, now please also let me know what can we do in this situation.
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