14 October 2009
APPLICABLE TDS RATES AND SURCHARGE FOR THE ASSESSMENT YEAR 2010-2011 Please find the following TDS Rates which is applicable from 01.10.1009: TDS / TCS RATE CHART APPLICABLE FROM 01.10.2009 Sr No Section HEAD Threshold Limit Individual /HUF Any Other Entity
1 192 Income from Salary 0 Average Tax rate N.A. 2 194A Interest from a Banking Company Rs. 10,000/- p.a 10% 20% 3 194A Interest other than from a Banking Co. Rs. 5,000/- p.a 10% 20% 4 194C Payment to Contractors Rs.20,000/- per contract or Rs. 50,000/- p.a 1% 2% 5 194C Contractor / Sub-contractor in transport business ( If PAN Quoted) - Nil Nil
6 194C Contractor / Sub-contractor in transport business ( If PAN not Quoted) - 1% 2%
7 194C Payment to Sub-Contract/Adv Contract Rs.20,000/- per contract or Rs. 50,000/- p.a 1% 2%
8 194I Rent on Plant / Machinery Rs. 1,20,000/- p.a 2% 2% 9 194I Rent Other then Plant / Machinery Rs. 1,20,000/- p.a 10% 10% 10 194J Fees for Professional / Technical Services Rs.20,000/-p.a 10% 10% 11 194B Winning from Lotteries & Puzzles 30% 30% 12 194B Winning from Horse Races 30% 30% 13 194E Non-resident Sportsman or Sports Association 10% 10% 14 194G Commission on Sale of Lottery Tickets 10% 10% 15 194H Commission/Brokerage Rs. 2,500/- p.a 10% 10%
Applicability of surcharges on TDS Rates: Status Payment Surcharge Cess Resident Corporate Other than Salaries N N Resident Non-corporate Other than Salaries N N Resident Non- Corporate Salaries N Y Non-Resident Corporate 1 crore Y Y Non-Resident Non- Corporate N Y
There has been major changes with regard to surcharge, education cess, SHEC, after approval of the finance (No. 2) ACT, 2009. Surcharge on Income Tax: - Surcharge on income-tax for the assessment years 2009-2010 and 2010-11 will be as follows : - A.Y. 2009-10 A.Y. 2010-11 Individual/HUF/AOP/BOI if net income does not exceed Rs. 10 Lakh NIL NIL Individual/HUF/AOP/BOI if net income exceeds Rs. 10 Lakh 10% NIL Artificial Juridical Person 10% NIL Co-operative society, local authority NIL NIL Firm if net income does not exceed Rs. 1 Crore NIL NIL Firm if net income exceed Rs 1 Crore 10% NIL Domestic company if net income doews not exceed Rs. 1 Crore NIL NIL Domestic company if net income exceeds Rs. 1 Crore 10% 10% Foreign Company if net income does not exceed Rs. 1 Crore NIL NIL Foreign Company if net income exceeds Rs. 1 Crore 2.5% 2.5% Surcharge, Education Cess in the case of TDS – For the F.Y. 2009-10, A.Y. 2010-11 Nature of Payment Whether surcharge is applicable Whether education cess @ 2% and SHEC @ 1% is applicable Salary to a Resident or Non – Resident NO Yes Payment other than salary to a resident NO NO Payment other than salary to a non-resident not being foreign company NO YES Payment other than salary to a foreign company (payment or credit subject to TDS does not exceed Rs. 1 Crore NO Yes Payment other than salary to a foreign company (payment or credit subject to TDS exceeds Rs. 1 Crore) Yes @ 2.5 of TDS Yes TDS Rates applicable w.e.f. 1-10-2009
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