TDS u/s 194I applicable rate

Suhas Deshmukh (Manager Finance & Accounts)   (132 Points)

01 March 2022  

Dear Sir

 

We have booked one rent invoice in March 2021, at that time TDS U/s 194I rate was 7.5% . But actual payment was done in May 2021. TDS rate u/s 194I revised w.e.f. 1-Apr-2022 to 10%. In this case should we deduct balance TDS 2.5% while making payment?