TDS PERCENTAGE ON AGENT COMMISSION IS CHANGED TO 5% (FROM 10%) WITH EFFECT FROM 01/06/2016

TDS percentage on Agent Commission is changed to 5%  (from 10%) with effect from 01/06/2016. This change is configured in Finacle.

Please do not raise tickets stating lesser TDS is getting calculated.

In the case of back-value dated transactions for which 10% TDS is already accounted for, necessary error entries & accounting should be carried out.