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Tds on laon given by the partners

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 December 2015 whether TDS will be deducted on interst on loan given by the a partner to partnership firm.
i have read that TDS non deduction on interest on partner capita.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
27 December 2015 TDS not applicable on interest paid by partnership firm to partner.

Refer section 194A(3)(iv) of Income Tax Act 1961.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
28 December 2015 Agree with Sanjay suggestion... however in case partner is Non Resident TDS require to be deduct on Interest on capital under section 195..
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