Showing posts with label Rates of TDS. Show all posts
Showing posts with label Rates of TDS. Show all posts

TDS rates under Income Tax for the Financial Year 2012-2013

0 comments Saturday, June 30, 2012

Section
Particulars
TDS
Threshold Limit
Surcharge and Education Cess
192
 Salary
Normal Rate
As per normal computation of income
1.      Surcharge:
No Surcharge on TDS in case of payment is made to Resident or Domestic Company
No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company
2.5% Surcharge on TDS if the recipient is a foreign company and amount exceeds Rs. 1 Crore.
2.      Education Cess
No EC or SHEC on TDS in case of payment is made to Resident or Domestic Company [Other than Salary]
3% EC and SHEC (2% + 1%) on TDS in case of Salary
3% EC and SHEC (2% + 1%) on TDS in case of payment is made to Non Resident
193
 Interest on Specified Securities
10%
 Rs. 5,000 [Rs. 2,500 upto 30-6-2012] in case of Listed Debentures payable to resident individual or a Hindu undivided family, by a company in which public are substantially interested
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Rates of TDS for the Financial Year 2010-2011

0 comments Monday, June 6, 2011


Section
Particulars
TDS
Threshold Limit
Surcharge and Education Cess
192
 Salary
Normal Rate
As per normal computation of income
1.      Surcharge:
No Surcharge on TDS in case of payment is made to Resident or Domestic Company
No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company
2.5% Surcharge on TDS if the recipient is a foreign company and amount exceeds Rs. 1 Crore.
2.      Education Cess
No EC or SHEC on TDS in case of payment is made to Resident or Domestic Company [Other than Salary]
3% EC and SHEC (2% + 1%) on TDS in case of Salary
3% EC and SHEC (2% + 1%) on TDS in case of payment is made to Non Resident
193
 Interest on Specified Securities
10%
 Rs. 2,500 in case of Listed Debentures
Rs. 10,000 in case of 8% Savings (Taxable) Bonds, 2003,
Rs. 10,000 in case of 6½ per cent Gold Bonds, 1977, or 7 per cent Gold Bonds, 1980, where the Bonds are held by an individual not being a non-resident, and the holder thereof makes a declaration in writing before the person responsible for paying the interest that the total nominal value of the 6½ per cent Gold Bonds, 1977, or, as the case may be, the 7 per cent Gold Bonds, 1980
No TDS on certain specified securities
193
 Interest other Securities
10%
194
 Dividend       (Deemed)
10%
 Rs. 2,500
194
 Dividend (Other)
Nil
194A
 Interest other than interest on security
10%
 (a) Rs. 10,000/- where the payer is a banking company
(b) Rs. 10,000/- where the payer is a co-operative society engaged in carrying on the business of banking;
(c) Rs. 10,000/- on any deposit with post office under any scheme framed by the Central Government and notified by it in this behalf; and
(d) Rs. 5,000/- in any other case
194B
 Winning from Lotteries
30%
 Rs. 5,000 - upto 30.6.2010
Rs. 10,000 - w.e.f. 1.7.2010
194BB
 Winning for horse race
30%
 Rs. 2,500- upto 30.6.2010
Rs. 5,000 - w.e.f. 1.7.2010
194C
 Payment to Individuals and HUF
1%
 Rs. 20,000 per single contract or Rs. 50,000 in aggregate during the Finance Year - upto 30.6.2010
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year - w.e.f. 1.7.2010
No TDS on GTA if PAN number of the GTA is available
194C
 Payment to other contractors
2%
 Rs. 20,000 per single contract or Rs. 50,000 in aggregate during the Finance Year - upto 30.6.2010
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year - w.e.f. 1.7.2010
No TDS on GTA if PAN number of the GTA is available
194D
 Insurance Commission
10%
 Rs. 5,000- upto 30.6.2010
Rs. 20,000 - w.e.f. 1.7.2010
194E
 Payment to a non-resident sportsman or association
10%
 -
194EE
 Payment for National Saving Scheme, 1987
20%
 -
194F
 Payment for repurchase of units
20%
 -
194G
 Commission on sale of lottery ticket
10%
 Rs. 1,000
194H
 Commission or Brokerage
10%
 Rs. 2,500- upto 30.6.2010
Rs. 5,000 - w.e.f. 1.7.2010
194I
 Rent on land, building or furniture
10%
 Rs. 1,20,000- upto 30.6.2010
Rs. 1,80,000 - w.e.f. 1.7.2010
194I
 Rent on plant, machinery or equipment
2%
 Rs. 1,20,000- upto 30.6.2010
Rs. 1,80,000 - w.e.f. 1.7.2010
194J
 Fees for Professional/Technical services
10%
 Rs. 20,000- upto 30.6.2010
Rs. 30,000 - w.e.f. 1.7.2010
194LA
 Compensation to a resident on acquisition of certain immovable property
10%
 Rs. 1,00,000

1.    Self Declaration - Tax (TDS) is not deductible under section 193, 194, 194A, 194EE or 194K if the recipient makes a declaration in Form 15G / 15H under the provisions of section 197A. But, the person seeking to furnish Form 15G / 15H must have PAN number on or after 1.4.2010
2.   Certificate from AO - Under Section 197 - A person can apply to AO and seek a certificate in Form 13 for no deduction of TDS or deduction of TDS at lower rates under sections192, 193, 194, 194A, 194C, 194D, 194G, 194H[, 194-I, 194J, 194K, 194LA and 195.
2. In case PAN of the deductee is not available than TDS rate will be 20%

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