Respected Sirs,
I would like to know one thing.My bose is individual.
My bose taken a loan from individual for the F.Y.2010-2011 and paying interest thereon.The interest amount croses 10000
Therefore, I have to deduct TDS @ 10%.But I have not deducted TDS on Interest paid under 194A.Should I deduct TDS now for the F.Y.2010-2011,because due date of filing return for individual is 31july The other person had not filed his return for the F.Y.2010-2011.He asks TDS Certificate.Shoud I deduct TDS now and issue certificate.and what is the penalty (interest rate on late payment of TDS)
Please give me advice in this regard urgently
Thanks to all