28 March 2009
If Company/Firm Or Individual give interest to individual which is minor in this case company/firm or individual liable to deduct tds from interest
28 March 2009
If Payer is a Company or (Partnership) Firm, TDS has to be affected from interest, if payment exceeds Rs 5000. This position holds good irrespective of whether Payee is major or minor
If Payer is an Individual, TDS provisions of sec 194A do not apply
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