Is TDS is deducted on interest on delayed payment on purchase?if no, then why?
2 Replies
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 29 April 2013
If Interest is more than 5000/- then tds is applicable.
CA BINIT SHAH
(ERP Consultant & Tax Consultant)
(411 Points)
Replied 29 April 2013
TDS is to be deducted if the interest amount is more than Rs. 5000/ p.a.
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