I had paid an interest of Rs.90,000/- to X for 2010-11 against loan taken from him. He has given me form 15G along with PAN for not deducting TDS. Shall I deduct TDS or not?
Ramesh kumar (na) 01 July 2011
I had paid an interest of Rs.90,000/- to X for 2010-11 against loan taken from him. He has given me form 15G along with PAN for not deducting TDS. Shall I deduct TDS or not?
saurabh (Advocate) 01 July 2011
Dear Ramesh Ji ,
If X is having income below taxable limit you can submit Form 15G for 2010-11 on or before 7th April 2011 in Income tax office.
Thanks.
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