TDS on Interest..!!
This query is : Resolved
22 July 2011
Is TDS is deductiable on interest paid to family members; where the interest amount is about a lac and
the deductor and deductee are individuals
What is the case if the interest paid to
a) resident indian
b) Non resident indian
the deductor and deductee are individuals
What is the case if the interest paid to
a) resident indian
b) Non resident indian
25 July 2011
For this you have to let us know your turnover. If your turn over is above 60L then you have to deduct TDS and pay accordingly u/s 194A for resident Indian individuals
If you want to pay to NRI the you have to follow the RBI norms. While taking the loan you must have taken RBI permission if yes then while meriting the funds or profit you have to procure the permission of RBI
If you want to pay to NRI the you have to follow the RBI norms. While taking the loan you must have taken RBI permission if yes then while meriting the funds or profit you have to procure the permission of RBI
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