16 May 2015
DEAR SIR/MADAM, I WANT TO KNOW THAT MY FIRM HAS TAKEN AN UNSECURE LOAN FROM MANY INDIVIDUAL PERSON AND HUF, AND OUR FIRM PAY THEM INTEREST ON THAT PARTICULAR LOAN AMOUNT. MY QUERY IS SHALL OUR FIRM DEDUCT TDS AGAINST THE INTEREST PAID TO THEM, IF YES UNDER WHICH SECTION OF IT ACT I WILL FALL. WHAT IS THRESHOLD LIMIT TO DEDUCT TDS ON INTEREST. THANK YOU IN ADVANCE.