Disallowance of interest paid on unsecured loans - Non-deduction ...
Income Tax
May 20, 2021
Disallowance of interest paid on unsecured loans - Non-deduction of TDS - Once Form No. 15G & 15H are duly submitted by the assessee before the department, then assessee cannot be fastened with the disallowance u/s.40(a)(ia) of the Act for non-deduction of tax at source. However, these forms i.e. Form 15G & 15H have not been subjected to verification by the ld. AO. Hence, in the interest of justice and fair play, we deem it fit and appropriate to remand this issue to the file of the ld. AO for examining the Form 15G & 15H submitted by the assessee - AT
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