One of my clients who has a manufacturing concern ,have a total turnover of 98 lac during the F. Y 2012-13. A re they required to deducted TDS u/s 194A against interest paid on loan. Please guide.......this is urgent..
renu dutt (c a) (231 Points)
23 September 2013One of my clients who has a manufacturing concern ,have a total turnover of 98 lac during the F. Y 2012-13. A re they required to deducted TDS u/s 194A against interest paid on loan. Please guide.......this is urgent..
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 25 September 2013
tds is required to be deducted if assessee was under an legal obligation to audit his books of account in the preceding financial year. so if your books have been audited in the f.y. 11-12 then you are required to deduct tds.
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