TDS on interest paid on loans and advances other than from bank.
Limit is 5000 and rate is 10%?
10% when the PAN is furnished (the rate is 7.5% for interest credited from 14 May 2020 until 31 March 2021 as a COVID-19 relief measure); 20% if the PAN is not provided. No surcharge, education cess or SHEC shall be added to the above rates. Hence, tax will be deducted at source at the basic rate. 5000 limit is for interest received from other than banks and post office ... for bank, banking coop society & post office its 40,000 (for senior citizens limit is 50,000)