Tax deducted at source

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2011 i am a proprietor, & i have taken a loan from private co (india bulls) to run the business & i am not liable for tax audit as my turnover is below 60, lacs. i would like to know whether i am liable to deduct tax on interest component.? and also is it compulsory to take tan number.

CA Dileep Surya Kumar

CA Dileep Surya Kumar (Expert)
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22 November 2011 TAN number not required and also your(Individual) turnover for the last previous year was less than 60lacs,provisions of section 194A are not applicable,TDS deduction not required.