deduction of TDS

chintan mehta (Chartered Accountant) (445 Points)

10 March 2010

at what rate a bank deducts TDS on fixed deposit...

or how is it calculated.

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6 Replies

CA CMA Amarnath Nuthalapati (Chartered Accountant) (81 Points)
Replied 10 March 2010

TDS on interest will be deductable As per Sec 194A

The rate applicable is 10%

The aggrigate amount paid does not exceed Rs.10,000/- then No TDS is Deductable

CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 11 March 2010

if payee is a domestic company, 20%

any other payee: 10%

CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 11 March 2010

please visit the following;

shushantsinghal (BCOM(HONS),C.A) (283 Points)
Replied 11 March 2010

DEAR ANUSHA...

THE RATE IS UNIFORM @ 10% FOR ALL ASSESSEE.........NO 20% NOW...

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CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 11 March 2010

Originally posted by : shushantsinghal
	DEAR ANUSHA... THE RATE IS UNIFORM @ 10% FOR ALL ASSESSEE.........NO 20% NOW...

u r right shushant.

perhaps i was not in knowledge of changes by finance act 2009 for tds rates, now i have to rectify myself on this aspect.

thanks

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 11 March 2010

Yes for all assessees 10%

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