TDS on Interest on Funds brought in by NRI Partner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2011
I would like to know that is TDS to be deducted on interest on funds introduced by NRI partner in Firm if yes than at what % is to be deducted
07 June 2011
IT APPEARS THAT THE FUNDS ARE INTRODUCED AS CAPITAL CONTBN AND INTEREST IS PAID IN CAPACITY OF PARTNER
IF YES THEN NO TDS BY VIRTUE OF SECTION 194a(3)(III)
CA MANOJ GUPTA
JODHPUR
09828510543
IF YES THEN NO TDS BY VIRTUE OF SECTION 194a(3)(III)
CA MANOJ GUPTA
JODHPUR
09828510543
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2011
The amount is over & above the funds introduced as capital contribution in the capacity of partner in the partnership firm it is attracting 10% interest p.a.
08 June 2011
TAX WILL HAVE TO BE DEDUCTED AT 30.9 PERCENT
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