TDS RATE CHANGED CIRCULAR
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2009
Dear Sir,
Please arrange to me TDS revised rate circular related to financial year 2007-08 first quarter
For your reference CBDT has change rate on 194J from 5.60% to 10.30 w.e.f from 01/06/2008 kindly arrange copy of this change rate circular.
please treat it urgent
Regards
Akbar
Dear Sir,
Please arrange to me TDS revised rate circular related to financial year 2007-08 first quarter
For your reference CBDT has change rate on 194J from 5.60% to 10.30 w.e.f from 01/06/2008 kindly arrange copy of this change rate circular.
please treat it urgent
Regards
Akbar
M Prabhakar Menon
(Expert)
14 November 2009
"Sr
No" Section HEAD Threshold Limit Individual /HUF Any Other Entity
1 192 Income from Salary 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%
TAX TO BE COLLECTED AT SOURCE (TCS)
16 Scrap 1% 1%
17 Tendu Leaves 5% 5%
18 Timber obtained under a forest lease or other mode 2.50% 2.50%
19 Any other forest produce not being a Timber or tendu leave
20 Alcoholic Liquor for Human Consumption 1% 1%
Note:-
TDS rates Proposed in Budget’09 Presented on July 6th, 2009  are effective from  1.10.2009
· No surcharge or Cess is applicable for TDS. Only the specified TDS rates should be considered for deduction.
The nil rate will be applicable if the transporter quotes his PAN.
TDS Rate when PAN not available: Section 206AA: If deductee fails to furnish PAN to deductor, the deductor shall apply highest of the following rates for deducting TDS:-
at the rate specified in the relevant provision of this Act; or
at the rate or rates in force;
or at the rate of 20%.
Copy and paste in exl file
"Sr
No" Section HEAD Threshold Limit Individual /HUF Any Other Entity
1 192 Income from Salary 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%
TAX TO BE COLLECTED AT SOURCE (TCS)
16 Scrap 1% 1%
17 Tendu Leaves 5% 5%
18 Timber obtained under a forest lease or other mode 2.50% 2.50%
19 Any other forest produce not being a Timber or tendu leave
20 Alcoholic Liquor for Human Consumption 1% 1%
Note:-
TDS rates Proposed in Budget’09 Presented on July 6th, 2009  are effective from  1.10.2009
· No surcharge or Cess is applicable for TDS. Only the specified TDS rates should be considered for deduction.
The nil rate will be applicable if the transporter quotes his PAN.
TDS Rate when PAN not available: Section 206AA: If deductee fails to furnish PAN to deductor, the deductor shall apply highest of the following rates for deducting TDS:-
at the rate specified in the relevant provision of this Act; or
at the rate or rates in force;
or at the rate of 20%.
Copy and paste in exl file
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