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What % of tds is applicable on int paid on loan taken from a pvt. ltd. co.by a sole proprietorship firm?


What % of tds is applicable on int paid on loan taken from a pvt. ltd. co.by a sole proprietorship firm?

a) Provision of TDS in case of sole prop. firm is applicable only if in the immediately precceding financial year, Gross Turnover was more than INR 40 Lacs.

b) Assuming applicability of provisions of section 194A, the rate applicable in your case shall be 22.44%.

CA. Deepak Bholusaria
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