TDS

This query is : Resolved

sapna (Querist)
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11 March 2010 An assessee has not deducted TDS for rent u/s 194-I for the financial year 09-10 (starting from 1st April 2009 )so at what rate TDS should be deducted bcoz there are 2 different rates one is pre enactment of finance bill 09 and other is post one?

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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11 March 2010 The effective date for the new rate is we.f 01.10 2009. So for the rent from 01.04.2009 to 30.09.2009 the old rate is applicable.

However you need not deduct any cess or surcharge even on the old rate.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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11 March 2010 As per my opinion the rates depends on the date when you are giving credit of rent to the party. If you monthly crediting the rent, then go as per the suggestion by CA Sanjay.

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