TDS APPLICABILITY FROM 01.10.2009

This query is : Resolved

JIGAR GOVINDBHAI DOSHI (Querist)
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28 August 2009 FINANACE MINISTER IN HIS BUDGET SPEECH REMOVED SURCHARGE AND EDUCATION CESS ON TDS AND ALSO REVISED TDS RATES FOR FEW CATEGORY.

MY QUESTION IS AS THE BUDGET HAS NOT PASSED IN THE PARLIAMENT, WHAT WOULD BE THE APPLICABILITY DATE FOR THE SAME ? AS PER BUDGET SPEECH IT WAS 01.10.2009. BUT AS THE THE SAME HAS NOT PASSED IN PARLIAMENT, WHICH RATE TO BE APPLIED ?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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28 August 2009 The budget has since been passed by Parliament and assented to by the President.

Provisions relating to removal of surcharge & cess is applicable w.e.f. 01-04-09.

Provisions relating to change in TDS rates is applicable w.e.f. 01-10-09.