TDS Provisions

TAX DEDUCTED AT SOURCE

Sr. No.

Section No.

Name of the Section

Maximum amount which can be paid without tax deduction (In Rs.)

W.e.f. (For Limit of Maximum amount)

Rate of TDS

1

193

Interest on Securities

Interest on Debentures- 2500

-------

10%

2

194

Dividends [Section 2(22)(e)]

2500

-------

10%

3

194A

Interest other than Interest on Securities

Refer Book

-------

10%

4

194B

Winnings from Lotteries or Crossword Puzzles

10000

1 July 2010

Refer Table 1

5

194BB

Winnings from Horse Races

5000

1 July 2010

Refer Table 1

6

194C

Contractors or Sub Contractors

Single Payment- 30000

1 July 2010

Refer Table 2

Aggregate Payment- 75000

1 July 2010

7

194D

Insurance Commission

20000

1 July 2010

10%

8

194E

Payment to Non-Resident Sportsmen or Sports Association

--------

-------

10%

9

194EE

National Savings Scheme

2500

-------

20%

10

194F

Repurchase of Units of Mutual Fund

-------

20%

11

194G

Commission etc. on Sale of Lottery Tickets

1000

-------

10%

12

194H

Commission or Brokerage

5000

Thursday, 1 July 2010

10%

13

194I

Rent

180000

Thursday, 1 July 2010

Refer Table 3

14

194J

Fees for Professional or Techinal Services

30000

Thursday, 1 July 2010

10%

TABLE 1 - SECTION 194B & 194BB OF INCOME TAX ACT, 1961

FROM APRIL 1, 2010, IF THE RECEPIENT DOES NOT FURNISHES

Sr. No.

Recepient

Rate of Tax

PAN NO., THEN TDS WILL BE DEDUCTED AT

1

Resident

30%

NORMAL RATE OR  20%  WHICHEVER IS HIGHER.

2

Non-Resident (Other than Foreign Company)

30.9% (IT-30%,EC-2%,SHEC-1%)

3

Non-Domestic Company

30.9% (IT-30%,EC-2%,SHEC-1%)

Exceeds 1 Crore

31.6725% (IT-30%,SC-2.5%,EC-2%,SHEC-1%)

TABLE 2 - SECTION 194C OF INCOME TAX ACT, 1961

Sr. No.

Recepient

Rate of Tax

FROM OCTOBER 1, 2009, IF TRANSPORTER FURNISHES PAN NO.

1

Individual/HUF

1%

THEN, THERE IS NO REQUIREMENT TO DEDUCT TDS.

2

Any Other Person

2%

IF HE DOES NOT PROVIDE, THEN

TDS WILL BE DEDUCTED AS FOLLOWS:

RECEPIENT (UPTO MARCH 31, 2010.)

INDIVIDUAL/HUF

1%

ANY OTHER PERSON

2%

TABLE 3 - SECTION 194I OF INCOME TAX ACT, 1961

Sr. No.

Rent paid for

Rate of Tax

1

Machinery, Plant, Equipment

2%

RECEPIENT (ON OR AFTER APRIL 1, 2010.)

2

Land or Building or Furniture or Fittings

10%

ANY PERSON

20%