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tds u/s 194A

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(Querist)
24 May 2008 Hi all,

I want to know wheather in any case a patnership firm can deduct tds of a firm (patnership) @ 11.33% instead of 22.66 %

Thanks & Regards
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
24 May 2008 no,partnership firm can deduct tds of a paartnership @20.60% if total payment is less than one crores
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R.V.RAO

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R.V.RAO (Expert)
24 May 2008 UNDER SEC 194A,IF RECIPIENT IS A RESIDENT OTHER THAN DOMESTIC CO.THE TDS APPLICABLE IS 10.3%IF AGGREGATE PAYMENT /CREDIT DOES NOT EXCEED RS. ONE CRORE.
IF AGGREGATE PAYMENT /CREDIT EXCEEDS RS. ONE CRORE, THEN THE TDS APPLICABLE IS 11.33%
( FOR FIN. YEAR 2008-09)
SOURCE:DIRECT TAXES READY RECKONER -DR.VINOD.K.SINGHANIA

R.V.RAO
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