TDS u/s 194A

Dear Amit,

Rate is 10% for all Resident assesses.......

Mr.Amit

Please see the attachment it will be useful for u..

hi

recently i have seen all the amendments in incometaxindia.gov.in and there were no any such amendments in rates of TDS u/s 194A by Finance(2) Act 2009

also the supplementary model published by ICAI on DT and IDT final has not mentioned any such changes

i have also downloaded TDS charts for  FY 2009-10 from the sites of various experts and forums and there is also confusion regarding this

so please if any one can provide me with authentic rate

In case of confusion go to the source file where all rates are prescribed. So go the Finance Act, 2009 and check the rates for TDS on interest u/s 194A. It says rates for every assessee is 10%.

The finance act is enclosed herewith for your ready reference.

Please refer page 38 of the Act where rates are prescribed for other than companies is 10% and page 41 where the rates are prescribed for companies (highlighted) is 10%

(section 194 A)In case of individual and HUF, the rate is 10% and for others it is 20%

i agree with Aditya. The TDS rate U/S 194A is 10% even if resident is corprate assessee w.e.f. from 1.4.2009. No confusion abt that.

The tax rate is @ 10% u/s 194A  to all assessee. Employer should deduct TDS if employee crosses his/her basic exemption limit.

there is only two rate from 1/10/09 i.e.:

if payment made to resident     -----    10%

if payment made to Non resident  ----- 30.9%

PAYMENT OF INTEREST TO NON-RESIDENTS FALLS  u/s. 195 and not sec 194A.

Sec 115A(1)(a)(B) of the I. Tax Act, 1961, prescribes withholding tax rate on  interest paid to non-residents  @ 20.60%.