TDS on fixed deposit

under sec.194A @ 10%

Yes 10%

Thanks for ur response

The Company has a deposit of Rs.6 Crore with the bank since April 09

TDS has been deducted @ 22.66%. Is that Ok.

If so, from when is the new rate of 10% applicable

The TDS rate applicable on interest other that interest on securities for FY 2009-10 and FY 2010-11 is 10%

ya agree with 10%

Its ok because anyways you will be receiving Form 16A from your Bank.

The TDS rate changed from 22.66% to 10% from F.Y. 2009-10. I think from August 19, 2009.

The TDS rates are applicable from 1st October 2009 onwards.

Yup from 1st october 2009 it is @ 10%..earlier it was 20% + 10% Sur + 3% Cess