Rajkiran Ghosh (480 Points)
03 June 2018
A B Kundu
(Professional)
(1422 Points)
Replied 03 June 2018
If the interest on such additional loan is being paid by you to the same payee whom you had paid the interst on 1st loan, in that case you need to deduct tax upon whole interest amount (old + additional), because total interest is paid to the same payee which is more than Rs.5K.
Rajkiran Ghosh
(480 Points)
Replied 03 June 2018
A B Kundu
(Professional)
(1422 Points)
Replied 03 June 2018
If the payee is different and the interest amount paid to him is less than Rs.5K, then you don't need to deduct tax.
Rajkiran Ghosh
(480 Points)
Replied 03 June 2018
A B Kundu
(Professional)
(1422 Points)
Replied 03 June 2018
For those 3 months you have already deducted tax and deposited to CG, right?
A B Kundu
(Professional)
(1422 Points)
Replied 03 June 2018
So where you have already deducted tax and deposited to the credit of CG, then what's the confusion? You have to file the TDS return for the same. so that the payee would get the credit for the same.
Rajkiran Ghosh
(480 Points)
Replied 03 June 2018
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