What is the TDS rate on fixed deposit made by a Company? ( 1 crore and above)
What is the TDS rate on fixed deposit made by a Company? ( 1 crore and above)
under sec.194A @ 10%
Yes 10%
Thanks for ur response
The Company has a deposit of Rs.6 Crore with the bank since April 09
TDS has been deducted @ 22.66%. Is that Ok.
If so, from when is the new rate of 10% applicable
The TDS rate applicable on interest other that interest on securities for FY 2009-10 and FY 2010-11 is 10%
ya agree with 10%
Its ok because anyways you will be receiving Form 16A from your Bank.
The TDS rate changed from 22.66% to 10% from F.Y. 2009-10. I think from August 19, 2009.
The TDS rates are applicable from 1st October 2009 onwards.
Yup from 1st october 2009 it is @ 10%..earlier it was 20% + 10% Sur + 3% Cess
CAclubindia
