sec 194A -TDS ON INTEREST OTHER THAN SECURITY

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Gaurav (Querist)
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26 May 2010 HI,

CAN YOU PLS SPECIFY TDS RATE ON INTEREST OTHER THAN SECURITY FOR INDIVIDUAL/HUF/FIRM&COMPANY FOR FY-2009-2010.

Actually it's very confusing some where on internet it is mentioned that tds rate is 10% for all assesse however in some cases it is mentioned 10% for individual & huf, 20% for other wef 01/10/2009

Please specify correct TDS rate with supporting circular no./finance act etc.

thanks in advance

Regards
Gaurav

Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 May 2010 10%

Sl No. 1(a)(i) and 2(a)(i) of Part II of the first schedule of the Finance Act, 2010.

Gaurav

Gaurav (Querist)
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26 May 2010 how cum finance act 2010 is applicable for fy/py-2009-10. Finance act 2009 should be applicable?

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Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 May 2010 Ok. It was an oversight.

Finance Act(No. 2), 2009 also prescribe the TDS rate at Part - II of first schedule and it is 10%.