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Sir, whether tds has to be deducted from loan taken from relative?
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.
Replies (8)
TDS not applicable over loan taken or even repayment; but over interest paid over it, if any.
TDS is not applicable on loan taken or repaid. It's applicable on interest.
Is there any limitation on interest, on and above of interest TDS should be deducted.
If you are individual (not liable to audit in previous year) who has taken loan, no TDS will be applicable
Sir,
Then Tds is applicable for whom.
For all other than (Non audit liable) individuals/hufs like companies, firms, etc. (e.g. Bank, NFBC, corporates, partnership firms etc. etc.)
Thank you sir , new thing comes to be known.
A VERY HAPPY NEW YEAR.
Thakx and same to you all. Happy new year, 2017.
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