TDS applicability for Loan taken from Individual by proprietor company
NAADIMUTHU. M (C F O) (1 Points)
19 October 2023A proprietor company has received Loan from Individuals.
what is the applicability of TDS.
Regards
Naadimuthu
NAADIMUTHU. M (C F O) (1 Points)
19 October 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 20 October 2023
TDS is charged on loans according to the provisions that fall under Section 194A of the Income Tax Act, 1961. Tax Deducted at Source is charged not only on secured loans but there is also a TDS on interest on unsecured loans.