Dear Sir
please suggest we have to pay interest on unsecured loan to individual.Individual has no other income we don't have Tan number.Can we pay 24000 interest to individual person Tds is mandatory or not.how much amount we have pay without deduction of TDS
6 Replies
Surinder
(Assistant)
(362 Points)
Replied 11 April 2021
Sir
previous year 2019-20 turn over 1 crore 18 Lacs and this year 2020-21 around 2.50 crore
previous year 2019-20 turn over 1 crore 18 Lacs and this year 2020-21 around 2.50 crore
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 April 2021
Yes TDS should be deducted u/s 194A @ 7.5%
Surinder
(Assistant)
(362 Points)
Replied 11 April 2021
Sir Can we pay interest without deduction of TDS
Ankit Neema
(2742 Points)
Replied 11 April 2021
No, you have to deduct tds , if interest exceeds Rs. 5000
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 April 2021
TDS should be Deducted
Recent Topics
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
Related Threads
CAclubindia
