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TDS DEDUCTION AMOUNT LIMIT

NETAJI SALUNKE (124 Points)

23 September 2019

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

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CA ABHAY GUPTA (Practice) (3230 Points)
Replied 23 September 2019

Amount before GST is to be taken for calculating TDS for the above mentioned section.

NETAJI SALUNKE (124 Points)
Replied 23 September 2019

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

Kumar Sushank (General Manager - Finance) (1040 Points)
Replied 23 September 2019

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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