What is the section for deduction TDS on interest on loan, financial consultancy services and credit rating services?
Also what is the rate of interest chargeable on late payment of TDS?
Thanks
Pankaj Arora
(Learner)
(3134 Points)
Replied 17 March 2011
Late deposit tds interest will be 1.50 % pm and late deducted tds interest will be 1% pm.. TDS u/s 194a @ 10% on loan’s interest paid to financial consulancy service and rating services