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Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 Hi,
I have a prop firm which is under tax audit.
I have few personal loan on which I have made interest payment, but i have not deducted TDS as it was my personal loan and not business loan.

Do i need to deduct TDS in the current case??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 August 2014 If Loan taken from Bank then TDS deduction not required otherwise TDS is required to be deducted since Tax Audit Applicable.

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