I want to know about the Applicability of rate on T.D.S. on Warehousing for the financial year 2009-2010.
Monik Shah (CA Final) (39 Points)
31 May 2010I want to know about the Applicability of rate on T.D.S. on Warehousing for the financial year 2009-2010.
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 31 May 2010
Pl. see sec. 194 I. Warehousing ch. are subject to tax deduction. circular no. 718 dt. 22.08.1995
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 31 May 2010
T.D.S. on Warehousing would be deducted u/s 194I.
Its threshold limit is Rs. 1,20,000.00.
Rate for T.D.S. will be as follows:
(1) Recipient is individual or HUF - 16.995% (incl. E.C. and H.S.E.C.) and 10.00% w.e.f. 01.10.2009.
(2) Recipient is Domestic company or firm - 22.66% (incl. E.C. and H.S.E.C.) and 10.00% w.e.f. 01.10.2009.
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