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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2014 if i paid an Interest on loan to bank per year rs 15000, so i have need to deduct TDS ???
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 June 2014 no tds is deductible on interest paid to banks
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2014 and if i paid to any other financial Institution then ??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 June 2014 yes, the answer is the same..read the answer...no TDS on interest paid to bank
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2014 If i paid to any other financial institution then ???
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 June 2014 then TDS will apply depending upon:

1. if you are an individual or HUF, then only if you are covered under tax audit

2. for other assessees, TDS to be deducted under 194A
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 June 2014 Thank You so much Sir.....
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 June 2014 you are welcome friend....
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