11 January 2010
We are a partnership firm and have taken some loans from a private party who is an agriculturist,.We are subject to 44AB provisions. We have to pay interest to the private party of about Rs.2.5 lacs for f.y.2009-2010. However, he does not have PAN and says that he willgive 15H and that we should not deduct any TDS.
Is this correct ? What is our stake in this issue since we have got tax audit.
CAclubindia
