It is proposed that no disallowance of the expenditure
which is subject to TDS provision will be made, if a
fter deduction of tax during the previous year, tax has
been paid on or before the due date of filing of return of
income.
This is effective from Assessment Year 2010-11 onwards
Increase in Rate of Interest for late deposit of TDS
The rate of interest on late deposit of tax deducted has
been increased from 12% p.a. to 18% p.a. with effect from July 1, 2010.
Rationalisation of provisions relating to TDS
Threshold for the purpose of deducting TDS has been increased with effect from
July 1, 2010 in view of rising inflation and reducing compliance burdens.
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