TDS on foreign Loan (Personal)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2011
I borrowed some funds from my relatives in UK and USA. The funds were remitted into my personal account. Now I want to repay the loan. I am not going to pay any interest on the loan.
Is there any TDS on repayment of principal amount of the loan?
Is there any TDS on repayment of principal amount of the loan?
25 April 2011
tds is not applicable,
Message likes :
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25 April 2011
TDS is applicable only on interest and not on repayment of principal amount.
05 May 2011
TDS provision will not applicable because you are not paying any income outside India.
More over this is capital nature transaction not revenue nature.
More over this is capital nature transaction not revenue nature.
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