Hey can any one please let me know about TDS
and its Effect in Accounts in the Party's Books And the Company who is Deducting the Tax
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TDS
Replies (2)
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NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009 PRESENTED ON 06/07/2009
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Particulars
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NEW TDS RATES% IF DEDUCTEE IS
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Section
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Nature of Payment
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CUT OFF AMOUNT
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INDIVIDUAL and HUF
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OTHER
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194A
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Interest from a Banking Company
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Rs. 10,000/- p.a
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10.00
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20.00
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194A
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Interest other than from a Banking Co.
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Rs. 5,000/- p.a
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10.00
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20.00
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194C
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Payment to sub-contrctor/Advertisement contracts
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Rs.20,000/- per contract or Rs. 50,000/- p.a
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1.00
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2.00
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194C
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other Contractors
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Rs.20,000/- per contract or Rs. 50,000/- p.a
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1.00
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2.00
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194C
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transport contractors engaged in the business of plying, hiring or leasing goods carriages.
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Nil *
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194H
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Commission or Brokerage
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Rs. 2,500/- p.a
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10.00
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194I
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Rent other than Plant, Mach.& Eqp.
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Rs. 1,20,000/- p.a
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10.00
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194I
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Rent of Plant , Machinery & Equipments
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Rs. 1,20,000/- p.a
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2.00
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194J
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Professional Charges
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Rs.20,000/-p.a
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10.00
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* 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
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** 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
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***No surcharge and cess on tax deducted on non-salary payments made to
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Thank u kavya
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