TDS Provisions
CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
02 July 2010CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
02 July 2010
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 July 2010
TAX DEDUCTED AT SOURCE |
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Sr. No. |
Section No. |
Name of the Section |
Maximum amount which can be paid without tax deduction (In Rs.) |
W.e.f. (For Limit of Maximum amount) |
Rate of TDS |
1 |
193 |
Interest on Securities |
Interest on Debentures- 2500 |
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10% |
2 |
194 |
Dividends [Section 2(22)(e)] |
2500 |
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10% |
3 |
194A |
Interest other than Interest on Securities |
Refer Book |
------- |
10% |
4 |
194B |
Winnings from Lotteries or Crossword Puzzles |
10000 |
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Refer Table 1 |
5 |
194BB |
Winnings from Horse Races |
5000 |
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Refer Table 1 |
6 |
194C |
Contractors or Sub Contractors |
Single |
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Refer Table 2 |
Aggregate |
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7 |
194D |
Insurance Commission |
20000 |
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10% |
8 |
194E |
Payment to Non-Resident Sportsmen or Sports Association |
-------- |
------- |
10% |
9 |
194EE |
National Savings Scheme |
2500 |
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20% |
10 |
194F |
Repurchase of Units of Mutual Fund |
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20% |
11 |
194G |
Commission etc. on |
1000 |
------- |
10% |
12 |
194H |
Commission or Brokerage |
5000 |
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10% |
13 |
194I |
Rent |
180000 |
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Refer Table 3 |
14 |
194J |
Fees for Professional or Techinal Services |
30000 |
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10% |
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TABLE 1 - SECTION 194B & 194BB OF INCOME TAX ACT, 1961 |
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FROM |
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Sr. No. |
Recepient |
Rate of Tax |
PAN NO., THEN TDS WILL BE DEDUCTED AT |
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1 |
Resident |
30% |
NORMAL RATE OR 20% WHICHEVER IS HIGHER. |
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2 |
Non-Resident (Other than Foreign Company) |
30.9% (IT-30%,EC-2%,SHEC-1%) |
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3 |
Non-Domestic Company |
30.9% (IT-30%,EC-2%,SHEC-1%) |
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Exceeds 1 Crore |
31.6725% (IT-30%,SC-2.5%,EC-2%,SHEC-1%) |
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TABLE 2 - SECTION 194C OF INCOME TAX ACT, 1961 |
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Sr. No. |
Recepient |
Rate of Tax |
FROM |
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1 |
Individual/HUF |
1% |
THEN, THERE IS NO REQUIREMENT TO DEDUCT TDS. |
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2 |
Any Other Person |
2% |
IF HE DOES NOT PROVIDE, THEN |
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TDS WILL BE DEDUCTED AS FOLLOWS:
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RECEPIENT (UPTO |
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INDIVIDUAL/HUF |
1% |
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ANY OTHER PERSON |
2% |
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TABLE 3 - SECTION 194I OF INCOME TAX ACT, 1961 |
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Sr. No. |
Rent paid for |
Rate of Tax |
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1 |
Machinery, Plant, Equipment |
2% |
RECEPIENT (ON OR AFTER |
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2 |
Land or Building or Furniture or Fittings |
10% |
ANY PERSON |
20% |
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Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India