INCOME TAX-TDS RATES
This query is : Resolved
27 March 2010
WHAT IS THE RATE OF TDS FOR INTEREST MADE TO COMPANY ASSESSEE(PAYMENT MADE AFTER 1.10.2009.
27 March 2010
10%
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27 March 2010
AT SOME PLACES IT IS SHOWING 20%. CAN YOU FORWARD ME ANY CIRCULAR REAGRDING THIS?
27 March 2010
IF RECEIVER IS DOMESTIC COMPANY THEN 20% IS CHARGED TDS RATE ON INTEREST
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27 March 2010
Please refer to Finance(No. 2) Act, 2009. Rate of TDS u/s 194A is 10% with effect from April'09, irrespective of type of deductee.
Rate of TDS is prescribed by the IT Act/Finance Act and not by way of Circular.
Rate of TDS is prescribed by the IT Act/Finance Act and not by way of Circular.
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27 March 2010
You both can download the Finance Act 2009 from here
https://www.caclubindia.com/share_files/finance-act-2009-24950.asp
In that file see page no. 41 of the act. It clearly states
2. In the case of a company—
(a) where the company is a domestic company—
(i) on income by way of interest other than “Interest on securities” 10 per cent.;
I hope it clears you query
https://www.caclubindia.com/share_files/finance-act-2009-24950.asp
In that file see page no. 41 of the act. It clearly states
2. In the case of a company—
(a) where the company is a domestic company—
(i) on income by way of interest other than “Interest on securities” 10 per cent.;
I hope it clears you query
27 March 2010
thanks
27 March 2010
10%
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27 March 2010
10%
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1 times
29 March 2010
This 10% rate is applicable from 1.10.2009 or 1.04.2009?
29 March 2010
10% is from 1/4/09
01 April 2010
Refer this discussion for rate before 01.10.2009
https://www.caclubindia.com/forum/tds-rate-for-company-deductee-for-period-april-09-sep-09-76753.asp?1=1&offset=2
https://www.caclubindia.com/forum/tds-rate-for-company-deductee-for-period-april-09-sep-09-76753.asp?1=1&offset=2
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