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TDS DEDUCTION AMOUNT LIMIT


NETAJI SALUNKE   23 September 2019

NETAJI SALUNKE

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in which amount we have to calculate TDS for SECTION 194A, 194H, 194C.

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CA ABHAY GUPTA (Practice)     23 September 2019

CA ABHAY GUPTA
Practice 
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Amount before GST is to be taken for calculating TDS for the above mentioned section.

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NETAJI SALUNKE   23 September 2019

NETAJI SALUNKE

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Greater than which amount to be calculate tds for above sections. is there any limitations for that amount sir.

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Kumar Sushank (Asst. Manager - Accounts & Taxation)     23 September 2019

Kumar Sushank
Asst. Manager - Accounts & Taxation 
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1. 194A is belongs to Interest :

Payment of Interest by Bank : Threshold Limit is 40,000/- (Upto age 60 years) & 50,000/- (Above age 60 years) TDS Rate defined against this section is 10%.

Payment of Interest by others : Threshold Limit is 5,000/- However, TDS Rate will be 10%.

(If PAN not available then rate will be 20%)

2. 194H is belongs to Commission or Brokerage :

Threshold Limit is 15,000/- & TDS Rate will be 5%.

(If PAN not available then rate will be 20%)

3. 194C is belongs to Contracts :

Threshold Limit is 30,000/- (if single bill) or aggregate turnover crossed 1,00,000/- & TDS Rate will be 1% (For Individual/HUF) & 2% (For Other than Individual/HUF).

(If PAN not available then rate will be 20%)

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