Applicability of new TDS rates

This query is : Resolved

SAMEER UPADHYAY (Querist)
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21 October 2009 Please tell me whether new TDS rates will be applicable for payments/bills related to July/Aug/Sept.No entry/payment made in this relation so far.

Thanks
Sameer

Ram Avtar Singh

Ram Avtar Singh (Expert)
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21 October 2009 TDs rate applicable iether Credit or Payment which is earlier.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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21 October 2009 As expert said, if you can book this expenses in Oct'2009 then the new rate will be applicable as you have neither credited nor paid before 01.10.2009

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CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)
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21 October 2009 Payment or credit which ever is earlier.

chetan soni

chetan soni (Expert)
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21 October 2009 agreed with expert.

Sreedhar Atchutuni ACA,GradCWA

Sreedhar Atchutuni ACA,GradCWA (Expert)
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21 October 2009 TDS will be applicable at the time of credit or payment which ever is earlier. Since in your case you have not credited in books of accounts and no payment is made till 1/10/2009 new TDS rates will be applicable.

ramprasad

ramprasad (Expert)
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25 October 2009 The only thing need to be looked into is what happens if the your case selected for the scrutiny and you have explain the huge amount expenditure you debited or paid on one month ?( related to earlier period credited or paid in one month to get the benefit of lower rate of TDS)