Person Responsible for Tax Deduction:
Central or state Government, Local authority, Company or Corporation established by Central or state Government.
Category of Payee:
Any person being resident.
Rate of Deduction of Tax:
Resident non-corporate assessee and domestic company – 10%
Time for Deduction of Tax:
At the time of credit to the account of payee or payment whichever is earlier.
Time for Deposit of TDS:
In case of deduction by or on behalf of the Government, on the same day.
Deduction of Tax at Lower rate or Non-Deduction of Tax:
Application of Form No. 13 shall be made to the assessing officer.