sec 194A -TDS ON INTEREST OTHER THAN SECURITY
This query is : Resolved
26 May 2010
HI,
CAN YOU PLS SPECIFY TDS RATE ON INTEREST OTHER THAN SECURITY FOR INDIVIDUAL/HUF/FIRM&COMPANY FOR FY-2009-2010.
Actually it's very confusing some where on internet it is mentioned that tds rate is 10% for all assesse however in some cases it is mentioned 10% for individual & huf, 20% for other wef 01/10/2009
Please specify correct TDS rate with supporting circular no./finance act etc.
thanks in advance
Regards
Gaurav
CAN YOU PLS SPECIFY TDS RATE ON INTEREST OTHER THAN SECURITY FOR INDIVIDUAL/HUF/FIRM&COMPANY FOR FY-2009-2010.
Actually it's very confusing some where on internet it is mentioned that tds rate is 10% for all assesse however in some cases it is mentioned 10% for individual & huf, 20% for other wef 01/10/2009
Please specify correct TDS rate with supporting circular no./finance act etc.
thanks in advance
Regards
Gaurav
Shyam Lal Naik
(Expert)
26 May 2010
10%
Sl No. 1(a)(i) and 2(a)(i) of Part II of the first schedule of the Finance Act, 2010.
Sl No. 1(a)(i) and 2(a)(i) of Part II of the first schedule of the Finance Act, 2010.
26 May 2010
how cum finance act 2010 is applicable for fy/py-2009-10. Finance act 2009 should be applicable?
Shyam Lal Naik
(Expert)
26 May 2010
Ok. It was an oversight.
Finance Act(No. 2), 2009 also prescribe the TDS rate at Part - II of first schedule and it is 10%.
Finance Act(No. 2), 2009 also prescribe the TDS rate at Part - II of first schedule and it is 10%.
CMA.Palani Arumugam
(Expert)
26 May 2010
Agreed. TDS on Interest other than securities is 10% for all assessees w.e.f.01.10.09.
Shyam Lal Naik
(Expert)
27 May 2010
In terms of Section 1 (2) of the Finance(No. 2) Act, 2009, the rate of 10% is applicable for all types of deductee wef 01.04.09.
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