TDS on interest on Partners capital and Unsecured Loan
This query is : Resolved
06 December 2008
Dear Sir,
Interest paid to partners by the partnership firm on
1)Whether TDS is applicable on Interest paid to partners by the partnership firm on the partners capital
2)Whether TDS is applicable on Interest paid to Partners by the partnership firm on the Unsecured Loan given by the partners
Please Clarify
Regards
Ravi Konda
Interest paid to partners by the partnership firm on
1)Whether TDS is applicable on Interest paid to partners by the partnership firm on the partners capital
2)Whether TDS is applicable on Interest paid to Partners by the partnership firm on the Unsecured Loan given by the partners
Please Clarify
Regards
Ravi Konda
06 December 2008
Yes TDS has to be deducted on int paid to Partners on their capital & Unsecured loans
06 December 2008
yes
06 December 2008
As per section 194A(3)(iv) interest income credited or paid by firm to a partner of the firm is not subject to TDS.
Thus, TDS is not required to be deducted in both cases.
Thanks.
Thus, TDS is not required to be deducted in both cases.
Thanks.
Message likes :
1 times
06 December 2008
1) T D S is not applicable on interest paid on capital to a firm's partner but interest piad on loan will attract T D S provisions.
Message likes :
1 times
06 December 2008
I am agree with prakash mehta ,
Interest paid or credited to partners account by the firm is not subject to tds
Interest paid or credited to partners account by the firm is not subject to tds
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Application of 115BAC
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
