Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

TDS under Section 194A

TDS under Section 194A 

  1. Interest on Loans
  2. Interests on Public Deposits
  3. Interest on Inter-Corporate Loans
  4. Interest on Commission Agent payment

The word interest in this section are

  1. Interest paid by a Firm to its partners.
  2. Interest paid by Central Government under the provisions of the Income Tax Act.
  3. Interest paid by a co-operative society to its members.
  4. Interest paid by one banking company to other for the deposits made.
  5. Interest paid by banking company to any institution which is notified by Central government such as LIC, UTI, etc.
  6. Interest paid on Zero coupon bonds.
  7. Interest paid to supplier for the late payment of the outstanding amount.
  8. Discounting charges for the bill discounted or for the export purpose will not to defined as interest and therefore not liable for TDS.
  9. Interest paid or credited on the schemes which are been notified by the Central Government.
  10. Interest on the Deposits for the deposits with the primary agricultural society or any co-operative land development bank or any co-operative land mortgage bank.

Exemption limit up to which no TDS:

The exemption limit for not deducting the tax on interest is Rs. 10,000 in case of Banking Companies and Rs. 5,000 in any other cases.

Rate of Deduction:

The Rate of Deduction under this Act is 10% in normal case and if any detail error such as Not having PAN then flat rate of 20% should be applied.

Deposit of the TDS so collected:

The TDS so credited should be paid on or before the seventh of the next month in which the TDS was credited. In case of month of March the TDS needs to be deposited within 30th of the month of April.

Non Deduction in certain cases:

Where the deductee is providing the deductor the Form 15G/15H (As applicable), then the deductor will not be liable for deducting the Tax.

Issue of TDS Certificates:

The issue of TDS Certificates would be 15 days from the due date of filing of returns, i.e. in 1st quarter, the return is filed on 15th of July, then the due date for TDS Certificates would be 30th July.

TDS returns:

The deductor deducting the tax and depositing the same needs to make the details available to the government by furnishing returns under the law and submit the same within time limits prescribed in law for each kind of person.

TDS under Section 194A

Gujarat VAT department has issued circular

At CAKART you will get everything that you  need  to be successful in your CA CS CMA exam – India’s best faculty  video  classes (online or in pen drive) most popular books of best  authors  (ebooks hard copies) best scanners and all exam related information  and notifications.Visit and chat with our  counsellors  any time. We are happy to help you make successful in your  exams.

Click here to download FREE CA CS CMA books.

Leave a comment

Your email address will not be published. Required fields are marked *