TDS on Interest paid to Partners on their loan A/c.
This query is : Resolved
27 July 2010
Is is necessary to deduct the TDS on the interest paid/provided on the loan from partners in the Partnership Firm u/s 194A?
27 July 2010
YES ,TDS IS TO BE DEDUCTED ON LOAN INTEREST . OTHERWISE EXPENDITURE WILL BE DISALLOWED.
27 July 2010
YES, TDS WILL BE DEDUCT ON INTERST PAID ON LOAN BY PARTNERS.
BUT TDS WILL NOT BE DEDUCTED ON INTREST ON PARTENR CAPITAL.
BUT TDS WILL NOT BE DEDUCTED ON INTREST ON PARTENR CAPITAL.
27 July 2010
agreed with mr. bansal tds is applicable on intt on loan but it is not applicable on intt on capital
Message likes :
1 times
27 July 2010
As per 194A(3)(iv) income tax need not be deducted.
03 August 2010
I agree with Mr B. Chakrapani Warrier, that as per S. 194A(3)(iv) the provisions of S. 194A(1) does not apply to such income as may be credited or paid by a firm to a partner of the firm.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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 einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
