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tds on interest on unsecured loans

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(Querist)
23 October 2009 in case of private limited company, do we need to deduct tds on intt on unsecured loan from shareholder/ director? the inerest is paid yearly.
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CA SANJAY MUKHERJEE

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CA SANJAY MUKHERJEE (Expert)
23 October 2009 Yes if interst exceeds Rs. 5000 in a f.year.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
23 October 2009 Yes TDS deductible u/s 194A at the time of payment or credit if interest exceeeds Rs. 5000
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