latest amendment in sec 194I-TDS on rent(change in rates)?
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194I
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See there is no chane in rates but the threshold limit has been changed from Rs. 1,20,000/- p.a. to Rs. 1,80,000/- p.a, but the same is appliacale from 1-7-2010
| TDS(tax deducted at Source) Rate chart For Financial Year 2010-11 | |||||
| |
Threshhold | Company,firm.Co-op Society,Local authority | HUF , Individual | ||
| Section | Nature of payments | up to 30.06.10 | wef 01.07.10 | Rate in % | |
| 194A | Interest From Bank | 10000 | 10000 | 10 | 10 |
| 194A | Other Interest | 5000 | 5000 | 10 | 10 |
| 194B | Winning from Lotteries | 5000 | 10000 | 30 | 30 |
| 194BB | winning from Horse races | 2500 | 5000 | 30 | 30 |
| 194C | Payment to Contractors , Pay to Advt/Sub Contr , Payment to Transportor | 20000(50000 in a year) | 30000 (75000 IN year) | 2 | 1 |
| 194D | Insurance Commission | 5000 | 20000 | 10 | 10 |
| 194H | Commission/Brokerage | 2500 | 5000 | 10 | 10 |
| 194I | Rent-property | 120000 | 180000 | 10 | 10 |
| 194I | Rent-Plant / Machinery | 120000 | 180000 | 2 | 2 |
| 194J | Professional Fees | 20000 | 30000 | 10 | 10 |
| Note -1 | For Section 194C Rs. 20000 for single payment & Rs. 50000/75000 for aggregate Payment during a financial year. | ||||
| Note -2 | Payment Made to Transportor ,Tds is Not required If pan is provided By the Transportor | ||||
| Note-3 | Surcharge and Cess Is not applicable on tds from 01,04,2009 on any payment made to resident. | ||||
| Note-4 | If pan not provided by the deductee then rate as per above table or 20% which ever is higher is to be charged.(effective from 01.04.2010 section 206AA) | ||||
regards,
ratan
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