TDS-194I

IPCC 453 views 3 replies
TDS ON RENT FOR EQUIPMENT :
TDS ON RENT FOR EQUIPMENT U/S 194I WAS 10% UP TO 30.09.2009 AND
FROM 01.10.2009 IT IS 2%.
ASSESSEE DEDUCT TDS AT THE TIME OF PAYMENT ONLY.
ASSESSEE HAS TO MAKE PAYMENT IN THE MONTH OF MARCH '2010 FOR
A BILL OF SEPT'09 -: WHICH RATE WILL BE APPLICABLE 10% OR 2% ?
Replies (3)
Tax rate will be 2%
2% rate is applicable of may 2010 exams
TDS is deductible at the time of Credit or Payment whichever is earlier. So TDS should be deductible u/s 194 I @ 10% as the CREDIT was made on SEPT 2009. Regards KRISHNA


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