Member (Account Deleted)
[ Scorecard : 5590]
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Posted On 26 January 2010 at 11:34
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CBDT has made a press release regarding the applicability of New TDS provisions ie deduction @ 20% for TDS purposes where the deductee doesnt provide PAN. This will be applicable from 01-04-2010
Complete text of press release has been attached to this post.
Attached File : 32_cbdt_pressrelease_01252010.pdf downloaded 209 times
Total thanks : 1 times
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Amir
Learner
[ Scorecard : 3851]
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Posted On 26 January 2010 at 11:54
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Dear Uday,
Thanks 4 sharing..
I just want to ask that whether the new TDS rules @ 20% is applicable for salaries as well...because in this case rate can reach upto 30%..& there is no rate prescribed as such with which it can be compared..
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LOVE ARORA
C.A. Final Student, B.Com (H) Graduate
[ Scorecard : 1168]
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Posted On 26 January 2010 at 12:17
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amir, the new TDS rates @ 20% are not applicable for salaried employees................
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Member (Account Deleted)
[ Scorecard : 5590]
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Posted On 26 January 2010 at 12:36
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Yes Love Arora is right, Higher rate is not applicable to Salaries.
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Amir
Learner
[ Scorecard : 3851]
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Posted On 26 January 2010 at 13:00
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Hey Friends,
I m not denying what u r saying..but can u plz support ur answer on legal grounds...
Total thanks : 1 times
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angelicscoop
article
[ Scorecard : 44]
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Posted On 26 January 2010 at 17:13
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may i no is it applicable just for transport contracts or to every section of tds..i.e interest,rent,commission????
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angelicscoop
article
[ Scorecard : 44]
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Posted On 26 January 2010 at 17:24
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i got my answer reading the press release. thanks for the news
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sudhir rawal
B.COM/PCC/ARTICLE/'O'LEVEL
[ Scorecard : 281]
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Posted On 26 January 2010 at 18:05
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thanks for good sharing
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rahul agrawal
C.A FINAL STUDENT
[ Scorecard : 52]
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Posted On 27 January 2010 at 10:48
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wheather dis rate applicable to tds on winnings or lottery.?
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Phoenix
Awaiting Resurrection
[ Scorecard : 1698]
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Posted On 27 January 2010 at 13:56
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| Originally posted by : Amir |
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Dear Uday,
Thanks 4 sharing..
I just want to ask that whether the new TDS rules @ 20% is applicable for salaries as well...because in this case rate can reach upto 30%..& there is no rate prescribed as such with which it can be compared.. |
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Dear Amir,
The press note says that the deduction should be made at the higher of precribed rate or 20%
The employer is required to deduct TDS as per the applicable slab of the employee(Clearly prescribed in the act)
So salary also 20% or 30% as may be applicable the deduction can be made where PAN is not provided (on slab basis)..
But it opens another doubt whether instead of 10%, the employer may have to deduct 20%.... I guess the answer would be 20% if employee cant provide PAN.
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