NEW TDS RATES FROM 01.10.2009

  NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009 PRESENTED ON 06/07/2009 Particulars NEW TDS RATES% IF DEDUCTEE IS Section Nature of Payment CUT OFF AMOUNT INDIVIDUAL and HUF OTHER 194A Interest from a Banking Company Rs. 10,000/- p.a 10.00 20.00 194A Interest other than from a Banking Co. Rs. 5,000/- p.a 10.00 20.00 194C Payment to sub-contrctor/Advertisement contracts Rs.20,000/- per contract or Rs. 50,000/- p.a 1.00 2.00 194C other Contractors Rs.20,000/- per contract or Rs. 50,000/- p.a 1.00 2.00 194C transport contractors engaged in the business of plying, hiring or leasing goods carriages. Nil * 194H Commission or Brokerage Rs. 2,500/- p.a 10.00 194I Rent other than Plant, Mach.& Eqp. Rs. 1,20,000/- p.a 10.00 194I Rent of Plant , Machinery & Equipments Rs. 1,20,000/- p.a 2.00 194J Professional Charges Rs.20,000/-p.a 10.00 * The nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/ HUF transporter and 2% for other transporters upto 31.3.2010 ** The rate of TDS will be 20 per cent in all cases, if PAN is not quoted by the deductee w.e.f. 1.04.2010 ***No surcharge and cess on tax deducted on non-salary payments made to resident taxpayers.