Sir, whether tds has to be deducted from loan taken from relative?

Ashim kr Ray (social service) (1691 Points)

02 January 2017

Sir, when loan taken from relative whether Tds has to be deducted.Is it compulsory to deducted Tds if Yes then in what amount from it applicable.

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170682 Points)
Replied 02 January 2017

TDS not applicable over loan taken or even repayment; but over interest paid over it, if any.

1 Like

ankita gandhi (student) (5908 Points)
Replied 02 January 2017

TDS is not applicable on loan taken or repaid. It's applicable on interest.

4 Like

Ashim kr Ray (social service) (1691 Points)
Replied 02 January 2017

Is there any limitation on interest, on and above of interest TDS should be deducted.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170682 Points)
Replied 02 January 2017

If you are individual (not liable to audit in previous year) who has taken loan, no TDS will be applicable

Ashim kr Ray (social service) (1691 Points)
Replied 02 January 2017

Sir,

Then Tds is applicable for whom.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170682 Points)
Replied 02 January 2017

For all other than (Non audit liable) individuals/hufs like companies, firms, etc. (e.g. Bank, NFBC, corporates, partnership firms etc. etc.)

1 Like

Ashim kr Ray (social service) (1691 Points)
Replied 02 January 2017

Thank you sir , new thing comes to be known.

A VERY HAPPY NEW YEAR.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170682 Points)
Replied 02 January 2017

Thakx and same to you all. Happy new year, 2017.

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