Dear Sir,
Please help me to understand below query.
We have taken loan amount of 2 crore from NBFC. And we deduct TDS under section 194A when we paid interest on that loan.
My main question is, Can I deduct TDS on accrued interest as on 31st March.
please suggest.
Yes. You have to deduct tax on accrued interest as well. Because the section states that tax is deductible at the time of crediting income to such account or at the time of payment, whichever is earlier.
CAclubindia
