TDS rate in case payment relate to month prior to Oct-09

This query is : Resolved

Varsha R.Bansal (Querist)
Follow

09 December 2009 Dear Experts,

In case a payment is been made now(i.e after Oct-09) which relates to invoices for month of Aug & sept-09 what rate of TDS be charged in case of Interest?
TDS is not deducted earlier but is deducted now after Oct-09
So tds rate should be 10% na in case of any assessee.

Regards,
Varsha

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

09 December 2009 in case of company,co opretive socity, form TDs@20%+++ and others 10%++++ before oct. 2009.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

09 December 2009 The issue is covered under section 194A. The section says that tax is to be deducted at the time of credit or payment which ever is earlier. So the rate prevailing on the date of passing the entry in the books of account has to be applied. Date of entry is not given in the query hence rate is not answered.

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

09 December 2009 So far rate of TDS u/s 194A is concerned, it is w.e.f. 01.04.09.

The popular belief that the rate has been changed w.e.f. 01.10.09 is misplaced.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kavita goel

Sridhar h s

kambamcr@gmail.com

Pranab Banerjee

Jeegar Valera

Subscribe Now

TDS rate in case payment relate to month prior to Oct-09

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA