What is the TDS rate on fixed deposit made by a Company? ( 1 crore and above)
Pawan Verma (Assistant manager finance) (186 Points)
17 May 2010What is the TDS rate on fixed deposit made by a Company? ( 1 crore and above)
Pawan Verma
(Assistant manager finance)
(186 Points)
Replied 17 May 2010
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
Rachit
(Analyst)
(913 Points)
Replied 17 May 2010
The TDS rate applicable on interest other that interest on securities for FY 2009-10 and FY 2010-11 is 10%
CA Kiran Sutrave
(CA)
(428 Points)
Replied 17 May 2010
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.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 17 May 2010
The TDS rates are applicable from 1st October 2009 onwards.
CA Punit GoSwaMi
(Chartered Accountant)
(310 Points)
Replied 18 May 2010
Yup from 1st october 2009 it is @ 10%..earlier it was 20% + 10% Sur + 3% Cess
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
