TaxTMI 
TaxTMI 
TDS on interest on unsecured loans to partners
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....DS on interest on unsecured loans to partners<br> Query (Issue) Started By: - Barkha Bahety Dated:- 21-9-2019 Last Reply Date:- 18-4-2020 Income Tax<br>Got 3 Replies<br>Income Tax<br>There is a LLP fi....
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....rm which has taken unsecured loans from its partners and paid interest on the same. However it has not deducted TDS on the interest. Whether the firm is liable to deduct TDS on interest paid on unsecu....
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....red loans taken from such partners? Reply By KASTURI SETHI: The Reply: Section 194A of Income tax Act contains provisions regarding TDS to be deducted on interest payable like interest on fixed depo....
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....sit, interest on unsecured loan. LLP firm is also covered under this Section. Reply By CASusheel Gupta: The Reply: As per section 194A(3)(iv), no TDS to be deducted. Firm includes LLP as per secito....
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....n 2(23) Reply By Srinivas KA: The Reply: If the firm is paying interest to partners, then TDS is not required to be deducted as per Sec 194A. Firm includes LLP<br> Discussion Forum - Knowledge Shar....
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....ing ....