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TDS Changes

Pravesh Kumar (Still Learning) (163 Points)

21 June 2010

Dear Friends,

Please tell me whether there is changes in TDS deduction and TDS Certificate issue etc. (For financial year starting from 01st April 2010 to 31st MArch 2011.)

I want to know the following

1) new tds rates with threshhold limit and date from which they started.

2) TDS Certificate issue date (i am being told we have to issue tds certificate quarterly is it true ? please explain. )

3) any change in filing of quarterly return etc.

also anything else which i should know as i m handling TDS in my company.

Thanks & Best Regards

Pravesh

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2 Replies

SIVASIVA (FCA, Future CA) (4935 Points)
Replied 21 June 2010

There is no change in the rates comparing to the budget (2) of 2009.

However, for fy10-11, only qualifying seems to have been changed w.e.f. 01.07.2010

that too for NOT ALL However for only few. They are (revised)

194C-single payment -Rs.30,000

aggregate payment-Rs.75,000

194B-Rs.10,000

194D-Rs.20,000

194I-Rs.1,80,000

194J-Rs.30,000

Others, i don't know

Also, check https://www.simpletaxindia.org/2010/03/tds-rates-10-11-tds-rate-chart-10-11.html

NiTiN JAiN (TAX CONSULTANT & CA FINAL STUDENT) (155 Points)
Replied 22 June 2010

Different rates & their applicable dates are attached in the file.

The TDS certificates are to be issued on Form 16-A on quarterly basis i.e. where the payment or credit has been made in between the year , but where at the end only one TDS certificate

Attached File : 41 32 tds latest chart.xls downloaded: 165 times