06 September 2008
I face to one problem, which is following.
I have doing a audit of Private limited company. Which is taking loan from it directores means whoes are the director appointed on the company, they are lending to company. second part is, Director also taking loan from bank to lend to company. company making payment of interest on behalf of Directors to Bank. Is there made any liability of company to deduct TDS on payment on Interest? second part is if the interest paid director firtly and then director paid to Bank in that case what is to be done? if yes pls tell me. or not also tell me as per income tax.
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