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Tds rate for Pvt. Ltd. Co.

Others 7445 views 6 replies

I just want to confirm......... what is the rate of tds on income by way of interest other than"  interest on securities "   for a domestic pvt. ltd. co. ?? 

 As per different views available on this site and also tds chart related  share files on this site   it is 20 %     but in    

finance act  2009 - first schedule - part II mentions ..... ....

        2. In the case of a company— (a) where the company is a domestic  company—

(i) on income by way of interest other than “Interest on securities” is 10 % ...  

winning lotteries etc                ---        30 %

winning horse races                   ----- 30 %

Any other income -------                  10 %

please clarify ...

Replies (6)

please find the attached file...

on income by way of 

winning lotteries etc                ---        30 %

winning horse races                   ----- 30 %

 

if the amount exceeds the specified limits.....

interest other than"  interest on securities " is covered under Section 194A, Why are u reading194B-194BB ??

 

Applicable rate of TDS is 10%   and exemption limit for year for TDS is Rs. 5000/-(Unless payer is Banking company, Post office or Coperative Bank -exemption limit is Rs.10000/-)

so when payment of interest on loan to pvt. co.  ..tax deducted at 10 % and no sc .....no cess for fy 2009-2010.

 can u tell me about wat s TDS rate of Professional fees u/s-194-j 

Still confusion exists.. on Sec. 194 A whether the Rate is 10% or 20% in case payee is a Co. wef 1.10.2009.Pls clarify as there are diverse views..

Dipesh


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