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.
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TDS u/s 194A
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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).
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