Income Tax Act has fixed the Tax Deduction at Source (TDS) rates at which person has to do the TDS deduction from the payments. Income Tax Act has also fixed the limits of payment.i.e minimum amount after which person is liable to do the TDS on the payment like TDS will be applicable on interest payment only when the total interest payment amount is higher than Rs 5000/- Interest Payment includes Interest on Bank Fixed Deposit, Interest on Saving Account. This Limit of Rs 5000/- is also applicable on Payment of Brokerage and Commission. Similarly TDS rate of 1% is applicable on Gold Bullion and Jewellery but after the payment in cash crosses Rs 2 Lakhs.
| Nature of payment made to Resident | Limit upto 30.06.2012 | Limit w.e.f. 01.07.2012 | TDS Rate (SC & Cess NIL) | |
| 194A | Interest other than interest on securities | 5000* | 5000* | 10% |
| 194C | Payment to contractor / sub-contractor (Note 1 & 2) | |||
| Payment / Credit to an Individual / HUF | 20000 | 30000** | 1% | |
| Payment / Credit to any person other than an Individual /HUF | 20000 | 30000** | 2% | |
| 194D | Insurance Commission | 20000 | 20000 | 10% |
| 194H | Commission or Brokerage | 2500 | 5000 | 10% |
| 194I |
Rent: Plant & machinery Land / Building / Furniture & Fittings |
120000 120000 |
180000 180000 |
2% 10% |
| 194J | Fees for professional or Technical services (2a & 2b) | 20000 | 30000 | 10% |
| 195 | Payment to Non Resident | 10-30% | ||
Also Read What Do We Mean by TDS
*For Bank/ Post Office threshold limit is Rs. 10000/-
**Rs. 30000/- in a single payment or Rs. 75000/- in the aggregate during financial year
If recipient does not furnish his PAN deductor, tax will be deducted @ 20% (w.e.f. 01/04/2010)
Note:
1. If recipient is a transporter contractor (any person) and he or it furnishes his PAN to the deductor, tax is not deductible (w.e.f. 01/10/2009) (PAN intimated to IT.Dept)
2a. Tax is deductible on the entire consideration including service tax (if any)
2b. Remuneration paid to a director, which is not in the nature of salary, deduct TDS @10% of such remuneration w.e.f. 01/07/2012
|
TDS on bullion and jewellery it sale consideration receive in cash w.e.f. 01.07.2012 |
Limit (Rs.) |
TDS Rate (Rs.) |
|
|
206C(1D) |
Bullion (excluding any coin or any other article weighting ten grams or less |
200000 |
1% |
|
206C(1D) |
Jewellery |
500000 |
1% |
tdsasd
i need information from your side to learn Because i joined to ICSI course
Thank you
srinivasa
tds re
Tds Rate Chart for the Financial Year 2013-2014
i required more information regarding the TDS applicablity
More then information give me
clear cut information about TDS rates …
Its become difficult for me to understand ..plz give me TDS chart so dat it becomes easy for me to understand it..
tds on bank deposit inconnection of trust account, can trust submitt 15h or any exemption letter ? did if tds deducted refundable ?
VERY GOOD
TDS Rate Chart for FY 2013-14