Interest on loans and advances
This query is : Resolved
11 July 2011
A company(non banking financing company) gives a loan of75 lac to another company(resort). They charge interest @ 13% P.a.My question is
1)under which head interest will be taxable?
2)how much TDS should be deducted?
nder which head means heads of income under income tax act 1961
1)under which head interest will be taxable?
2)how much TDS should be deducted?
nder which head means heads of income under income tax act 1961
11 July 2011
indirect income ( income on deposits / loans)
194A.10%
194A.10%
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