An individual not covered u/s 44AB pays interest of Rs.10000 pm for unsecured loan of Rs.1000000 obtained from a Industrial company, will TDS u/s 194A will apply for this case? please do explain with the provisions of act.
1 Replies
Paresh Rathod
(CA)
(222 Points)
Replied 25 February 2011
Sec. 194 A not apply to Individual/HUF whos sales/turnover/receipt from the business / profession carried on by him in immediately preceading FY not exceed the monetary limit u/s 44AB (a) or (b).
Recent Topics
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
Related Threads
CAclubindia
