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What is the rate of TDS applicable on interest on securities under Section 193 of Income Tax Act 1961 for Assessment Year 2018-19 ?

What is the rate of TDS applicable on interest on securities under Section 193 of Income Tax Act 1961 for Assessment Year 2018-19 ? Correct Answer 10%

The correct answer is 10%

Key Points

  • TDS: TDS stands for Tax Deducted as Source. It is the amount of income tax deducted from the money paid at the time of making certain payments, such as rent, commission, professional fees, salary, interest, etc.
  • Under Section 193 of Income Tax Act 1961, TDS levied on Interest on securities for Assessment Year 2018-19 is 10% of the amount of interest.

Related Questions

Which of the following components are true about tax planning?
1. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective.
2. The objective of tax planning is to make sure there is tax efficiency. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency.
3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
4. Tax planning comprises various considerations such as size, the timing of income, timing of purchases, and planning are concerned with other kinds of expenditures.
5. The chosen investments and the various retirement plans should go hand-in-hand with the tax filing status as well as the deductions in order to create the best possible outcome.
Which two of the following are correct about TDS Certificates? a) TDS on non-salary payment - Form 16 b) TDS on salary payment - Form 16 A c) TDS on sale of property - Form 16 B d) TDS on rent - Form 16 C Choose the correct option from those given below 
Which two of the following are correct about TDS Certificates?
1. TDS on non-salary payment - Form 16
2. TDS on salary payment - Form 16 A
3. TDS on sale of property - Form 16 B
4. TDS on rent - Form 16 C
Choose the correct option from those given below:
What is the rate of TDS applicable for Assessment Year 2020-21 on payment of rent by an individual in excess of Rs. 50,000 per month under Section 194IB of Income Tax Act 1961?
What is the rate of TDS applicable on winning from lotteries under Section 194B of Income Tax Act 1961 for 6 Assessment Year 2018-19 ?
What is the rate of TDS applicable on brokerage under Section 194H of Income Tax Act 1961 for Assessment Year 2018-19 ?
What is the rate of TDS applicable on payment of Legal and Professional charges under Section 194J of Income Tax Act 1961 for Assessment Year 2018-19 ?
Given below are three quantities named 1, 2 and 3. Based on the given information, you have to determine the relationship between the three quantities. You should use the given data and knowledge of Mathematics to choose between the possible answer. Quantity 1: An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes. Quantity 2: A sum of Rs. 725 is lent at the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest? Quantity 3: The difference between the compound interest and the simple interest on an amount of 15000 for 2 years is Rs. 96. What is the rate of interest per annum?
What is the maximum limit available on which NO TDS is required to be deducted in respect of premature withdrawal fom EPF under Section 192A of Income Tax Act 1961 for Assessment Year 2018-19?
What is the maximum limit available in respect of dividend under section 194 of the Income Tax Act, 1961, for the assessment year 2018-19 on which no TDS is required to be deducted?