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tds on interset from unsecured loans ?/

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 January 2011 i have given 7.5 lacs to my father saving acc .. the inetest total is around 40000.. shall he deduct tds ??
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Ravikant

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Ravikant (Expert)
16 January 2011 He shall be liable to deduct TDS on interest only if he was liable to Tax Audit under sec 44AB in the immediate preceding financial year, otherwise not liable to deduct TDS,,

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