TDS on Interest on securities-sec 193

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.

In all other cases:

Deduction of Tax at Lower rate or Non-Deduction of Tax:

Application of Form No. 13 shall be made to the assessing officer.

Certificate in Plain Paper shall be issued by the assessing officer to the assessee.