As per section 194A as amended by the finance Act, 2009, interest paid to company is liable for deduction @ 10% and not 20% as mentioned by you. Kindly verify and revert
Hi Asitya, Thanks for your correction. pls let me know whether these changes are made afterwords :) Becasue this chart i prepared when the first budget was introduced.
As per section 194A as amended by the finance Act, 2009, interest paid to company is liable for deduction @ 10% and not 20% as mentioned by you. Kindly verify and revert
Dear Prakash,
As you mentioned in Section 194I that if Pan no. is not quoted then rate wil be 20%
This provision applicable for A.Y. 2011-2012 not for A.Y. 2010-11.
Kindly verify and revert.
Hi Asitya, Thanks for your correction. pls let me know whether these changes are made afterwords :) Becasue this chart i prepared when the first budget was introduced.
Originally posted by : Aditya Maheshwari
As per section 194A as amended by the finance Act, 2009, interest paid to company is liable for deduction @ 10% and not 20% as mentioned by you. Kindly verify and revert
Dear Sir,
The rates were changed by the Finance Act 2009 and during the budget no such provision was introduced. Also the ready reckoner mentions the rate as 20% to create more confusion. The finance act 2009 is attached herewith. Refer page 41. So please verify and revert.