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TMI BlogTDS ApplicabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... TDS Applicability X X X X Extracts X X X X X X X X Extracts X X X X ..... uity with Margin trading facility extended by ICICI SECURITIES LIMITED Is he liable for TDS on interest charged by ICICI SECURITIES LIMITED which is not a Banking company Reply By shwetal oswal: The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply: Yes, he is liable to deduct. Reply By priyacharan sr: The Reply: TDS on payment of interest , other than interest on securities is governed by section 194 A of the Income Tax Act. Assuming u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r client is an individual or a Hindu undivided family, *whose total sales, gross receipts or turnover from the business or profession carried on by him exceed [one crore rupees in case of business or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fifty lakh rupees in case of profession] during the financial year immediately preceding the financial year in which such interest is credited or paid, he/she shall be liable to deduct TDS under this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section. In this regard please note the following: 1) If the above* condition is satisfied, then he shall be liable to deduct TDS under section 194A, provided the interest amount exceed Rs. 5,000 i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n a financial year.
2) However if the status of your client is other than individual/HUF , then TDS has to be deducted irrespective of the turnover in the Previous FY, .
* My View. X X X X Extracts X X X X X X X X Extracts X X X X ..... rum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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