If TDS deposited before Filing of Return of Income then No Disallowance
It is proposed that no disallowance of the expenditure which is subject to TDS provision will be made, if after deduction of tax during the previous year, tax has been paid on or before the due date of filing of return of income. [Effective Assessment Year 2010-11 Onwards]
Increase in rate of interest for late deposit of TDS. The rate of interest on late deposit of tax deducted has been increased from 12% p.a. to 18% p.a. with effect from July 1, 2010.
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