From when will the T.D.S new rate will be applicable, is it from 1-10-2009 or it is from 1-4-2009.
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T.D.S Querry
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new rates will be applicable from 1.10.09
TDS RATES FOR ACCOUNTING YEAR 2009-10 ONWARDS
TDS RATES APPLICABLE FROM 01.10.2009
|
Section Code |
Nature of Payment |
Threshhold Limit to deduct tax |
In case recipient is an Individual / HUF |
If the recipient is other than Individual / HUF
|
|
194-A
|
Interest other than interest on securities
Interest from Banking Company |
Rs.10,000/- p.a. |
10 % |
20 % |
|
194-A |
Interest other than interest on securities
Interest other than from Banking Company |
Rs.5,000/- p.a. |
10 % |
20 % |
|
194-C |
Payment to Contractor |
Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year
|
1 % |
2 % |
|
194-C |
Payment to Advertising Contractor / Sub Contractor |
Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year
|
1 % |
2 % |
|
194-C |
Payment to transport contractor / sub contractor |
If PAN Quoted |
NIL |
NIL |
|
194-C |
Payment to transport contractor / sub contractor |
If PAN not quoted |
1%
*20% from 01.04.2010
|
2%
*20% from 01.04.2010
|
|
Section Code |
Nature of Payment |
Threshhold Limit to deduct tax |
In case recipient is an Individual / HUF |
If the recipient is other than Individual / HUF
|
|
194-H |
Payment of commission or brokerage to resident |
Rs.2,500/- p.a. |
10 % |
10 % |
|
194-I |
Payment of Rent |
Rs.1,20,000/- p.a.
|
10%
*20% from 01.04.2010
|
10%
*20% from 01.04.2010
|
|
194-I
|
Payment of Rent for use of Plant , Machinery or Equipment |
Rs.1,20,000/- p.a.
|
2 %
*20% from 01.04.2010
|
2 %
*20% from 01.04.2010
|
|
194-J |
Payment of professional or technical services |
Rs.20,000/- p.a. |
10 % |
10 % |
Note :
- Surcharge ,Education Cess and Health Cess is not applicable for TDS.
- w.e.f 01-10-2009, 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 up to 31-03-2010
- The Rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee (including transporter) w.e.f. 01-04-2010
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