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TDS u/s 194-A (FOR COMPANY)

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2010 Dear All Friend

Good morning

I have query about company tds u/s 194-A (interest for bank example:-india bulls),I saw many tax side yesterday it saw interest percentage is 20% instead of 10%...now i am confuse which percentage taken...when budget come all side saw 10%..but now its correction and taken 20%...i am also going to income tax department yesterday..i meet income tax office..he also told 10% is taken...and please replay proper evidence or circular as soon as possible..

thanks in advance..
regds

mukesh katara
gandhidham
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 April 2010 The correct rate is 10%. There is no circular to this effect. However the evidence,the term you used, is Part II of The First Schedule,clause 2(a), of the Finance (No. 2) Act,2009.
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2010 thanx sir..
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