TDS Rates
This query is : Resolved
06 October 2009
We are in NBFC, since TDS rates are revised w e f 1st Oct 2009, We are paying interest to our depositors and we are following cash system of accounting my question is which rate of TDS on interest will be applicable for interest earned before 1st oct 2009 but interest is paid on or after Oct 1st 2009 ?
Shyam Lal Naik
(Expert)
06 October 2009
Since you are following cash system of accounting, the tds rate in force on the date of the payment will be applicable.
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