Tds on intrest paid on unsecured loan
This query is : Resolved
02 July 2014
Sir, i m open a new firm in 2013-14 and my firm is in under tax audit i m paid intrest 65000 so i have a libility of tds
03 July 2014
tds will deducted by you if you are Partnership firm intt pay excess Rs. 5000/- in a year to a person.
if you are proprietorship firm then no need no deduct tax due to this is first year. if you are take audit repost u/s 44AB then you have to deduct the tDS in next Finance year.
if you are proprietorship firm then no need no deduct tax due to this is first year. if you are take audit repost u/s 44AB then you have to deduct the tDS in next Finance year.
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