We are in NBFC, since TDS rates are revised w e f 1st Oct 2009, We are paying interest to our depositors and we are following cash system of accounting my question is which rate of TDS on interest will be applicable for interest earned before 1st oct 2009 but interest is paid on or after Oct 1st 2009 ? 
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TDS Rate
Replies (5)
In your case the rate in force on the date of payment will be applicable.
after oct rate is applicable because ur following cash system of accounting in my opinion if i am wrong please tell me the right answer>.....
Since you maintain a/cs as per cash method of accounting , Deducting TDS on credit basis doesnt arise , so rates in force as on the date of payment has to be followed .
In case if there are any issues regarding surcharge / cess etc , claim a relief u/s 294 . (rates with surcharge /cess or without surcharge cess whichever is beneficial to the assessee )
hi can any one tell me what changes r for tds rate on interest payment from 1 oct
ya i cn..
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