|
Sect. |
Relevant Rules |
Nature of Payment |
Payer |
Payee |
Rates of Deduction |
Time Limit For Depositing Tax (Rule 30) |
TDS Certificate Form No./Due Date (Rule 31) |
Quarterly Return/ Statement Form No. (Rules 37, 37A, 37B) |
Declaration for NIL deduction/ Application for NIL/Lower deduction (Rules
28, 28AA, 28AB, 29C) |
|
B. Tax is to be deducted in the following
cases at the time of payment:— |
|
192 |
21A,
21AA, 26A, 26B |
Salary
Deduct if tax is payable on Salary income after
Specified exemption u/s.10.
Loss under
"Income from house property"
Deduction u/ss. 80C, 80CCD 80CCC, 80D,
80DD, 80DDB 80E, 80G (specified), 80GG, 80U and
[As per section 192(1A), the employer has an option not to deduct tax at
source on non-monetary perquisites provided to employees and pay the said
tax himself)
|
Any
person |
Any
person |
1/12th of tax payable
calculated in the manner
specified in column 3
and
following the
rates
given below
|
Where the total income for an Individual |
Rate |
|
< Rs. 1,60,000 |
NIL |
|
> Rs. 1,60,000
|
10% of the amount
|
|
< Rs. 3,00,000 |
> Rs. 1,60,000 |
|
> Rs.
3,00,000 |
Rs. 14,000 + |
|
< Rs. 5,00,000 |
20% of the amount
|
|
|
> Rs. 3,00,000 |
|
> Rs. 5,00,000 |
Rs. 54,000+ 30% of the
amount
> Rs. 5,00,000. |
|
Where the total income in case of women
|
Rate |
|
< Rs. 1,90,000 |
Nil |
|
< Rs. 1,90,000 |
10% of the amount
|
|
< Rs. 3,00,000 |
> Rs. 1,90,000.
|
|
< Rs. 3,00,000 |
Rs. 11,000 + 20% of the
amount |
|
< Rs. 5,00,000 |
> Rs. 3,00,000 |
|
> Rs. 5,00,000 |
Rs 51,000 + 30% of the
amount
> Rs.5,00,000. |
|
Where the total income
in case of senior citizen |
Rate |
|
< Rs. 2,40,000 |
Nil |
|
>
Rs. 2,40,000 |
10% of the amount
|
|
< Rs. 3,00,000
|
> Rs. 3,00,000. |
|
> Rs. 3,00,000 |
Rs. 6,000 + 20% of the
amount
|
|
< Rs. 5,00,000 |
> Rs. 3,00,000. |
|
>
Rs. 5,00,000 |
Rs. 46,000 + 30% of the amount > Rs. 5,00,000 |
Additional 2% educational cess is leviable on the tax
Additional 1% secondary and higher educational cess is leviable on the Tax. |
Within 7 days from last day of month in which deduction is made |
Form
No. 16 / Form No.16AA 30th April |
24Q/27A (return in electronic media)
Rule 33
(Tax
deduction
from contri
bution paid by trustees
of an
approved super-annuation fund) |
Application Form 13 |
|
C . Tax is to be deducted in the following
cases at the time of payment: or provision whichever is earlier: |
|
193 |
|
Interest on Securities Deduct in cases other than where amount of interest
is payable
-
by widely held company on debentures to individual does not exceed Rs.
2500/-,
-
to LIC/GIC and other insurance companies.
-
Interest on Central/State Government security. Does not exceed 10,000/- on
8% saving bonds, 2003
-
on specified securities. and some specified bonds
-
on listed
security in dematerialized from
|
Any
person |
Any
Resident person |
|
For all Domestic Company and Firm
|
10% |
|
For Individuals/HUF/BOI Soc./Local authority |
10% |
|
within one week from last day of the month in which income paid or credited
whichever is earlier. If payee’s account is credited on last day of
accounting year then within 2 months from the end of the month in which
credit given |
Form
No.16A a) Within one month from
the end of the month in which credit is given or the amount is paid
b) For conso- lidated certificate at the
request of payee 30th April
c) If credit is given on
last day of the year
then within
7 days after expiry
of 2
months
of closing of year |
26Q/27A (return in electronic media) |
Application Form 13 Declaration Form 15G, Form 15H |
194
|
|
Dividend (Other than u/s.115-O) to a
Resident other than the dividend payable to following:
a) if dividend is paid by
account payee cheques & if dividend is less than 2500/-
b) if dividend paid to LIC/GIC and other insurer |
Any Indian Company |
Any resident |
|
For All Company
and Firm
|
10% |
|
For Individuals/ HUF/BOI
Soc./Local authority |
10% |
|
— do — |
— do — |
26Q/27A (return in electronic media) |
Application Form 13 Declaration Form 15G Form
15H |
|
194A |
|
Interest (other than interest on Securities)
Deduct in cases other than where amount of interest payable does not exceed
from 1st June, 2007:-
i) if interest does not exceed:
- ten thousand rupees, where the payer is a banking company to which the
Banking Regulation Act, 1949 applies
- ten thousand rupees, where the payer is a co-operative society engaged
in carrying on the business of banking
- ten thousand rupees on any deposit with post office under any scheme
framed by the Central Government and notified by it in this behalf; and
- five thousand in any other cases
ii) paid to banking co./financial corp./LIC/UTI/Central Gov.
iii) by firm to a partners
iv) interest paid on deposit other than term deposit |
Any person other than individuals and HUF who
are not subject to tax audit in the preceding financial year. |
Any Resident |
|
For All Company and Firm
|
10% |
|
For Individuals/ HUF/BOI
Soc./Local authority |
10% |
|
— do — |
— do — |
26Q/ 27A (return in electronic media)
|
Application Form 13 Declaration Form 15G,Form
15H
|
|
194B |
|
Winnings from lottery and crossword puzzles
including card game or other game or other game of any sort Deduct if amount
exceeds Rs. 5,000/- (For winnings in kind see proviso) |
Any person |
Any person |
for all Individual/HUF/
BOI with Company and Firms |
30% |
| Non domestic Co.
Payment above Rs. 1 crore |
31.6725%
|
|
Payment less then Rs. 1 crore |
30.9% |
|
Within 7 days from last day of month in which
deduction is made |
Form No.16A within one month from end of the
month during which sums have been paid |
Form
26Q/27A (return in electronic media) |
N.A. |
|
194BB |
|
Winnings from horse races Deduct if amount
exceeds Rs. 2,500/- |
Any person |
Any person |
All Individual/HUF/
BOI Company and Firms
Local authority/BOI |
30% |
| Non domestic Co.
Payment above Rs. 1 crore |
31.6725%
|
|
Payment less then Rs. 1 crore |
30.9% |
|
Within 7 days from last day of month in which
deduction is made |
Form No.16A As in Section 194B above |
Form
26Q/27A (return in electronic media) |
N.A. |
|
194C(1)
|
|
Payment to Resident Contractors Deduct if sum
exceeds Rs. 20,000/- or aggregate amt. for the financial year exceeds Rs.
50,000/- |
1) Central or State Govt. or Local Authority or
Corporation or Company or Co-op. Society Any Authority for housing accommo-
dation etc. Any Society or Trust or University firm, and
2) HUF and Individual subject to |
Any resident person who is a contractor of the
payer |
|
Up to 30.09.2009 |
1.
Advertising
Contracts :- |
|
|
Individuals/HUF/BOI |
1% |
|
Company/Firms |
1% |
|
2. Other Contracts |
|
Individuals/HUF/BOI
Coop Society |
2% |
|
Company/Firms |
2% |
|
From 1st October, 2009 |
|
For All
Individuals/HUF/BOI |
1% |
|
For All Company/Firms |
2% |
If contractor in transport
business and quotes his
PAN then rates will be |
NIL |
|
Within one week from last month in which income paid
So or
credited whichever is earlier. If payee’s account is credited on last day of
accounting year then within 2 months from the end of the month in which
credit given tax audit. |
Form 16A same as in Section 193 above |
Form
26Q/27A (return in electronic media)
|
Application Form 13
|
|
194C(2) |
|
Payment to resident sub- contractor Deduct if
sum exceeds Rs. 20,000/- or total amount for the financial year exceeds Rs.
50,000/- |
Contractors referred above and Individual and
HUF subject to Tax Audit in the preceding financial year.
This shall not apply in respect of payments made to a contractor by any
individual or a member of a HUF exclusively for their personal
purposes. |
Any Resident Person |
|
Up to 30.09.2009 |
1.
Advertising
Contracts :- |
|
|
Individuals/HUF/BOI |
1% |
Other Individuals/HUF/BOI/
Co-op. Society |
1% |
|
Company/Firms/Soc. |
1% |
|
|
|
|
From 1st October, 2009 |
|
For All
Individuals/HUF/BOI |
1% |
|
For All Company/Firms/Soc. |
2% |
If Sub contractor in
transport
business and
quotes his
PAN then
rates will be |
NIL |
|
Same as per Section 194C(1) |
Form No.16A same as in Section 193 |
Form
26Q/27A (return in electronic media) |
Application Form 13 |
|
194D |
|
Insurance Commission to Resident Deduct if
amount exceeds Rs. 5000 |
Any Person |
Any Resident Person |
For all domestic
Company and firm |
10% |
|
Payment exceeding |
|
For Individuals
/HUF/BOI |
10% |
|
Same as in Section 193 above
|
Form No.16A same as in Section 193
above |
— do —
|
Application Form 13 |
|
194E |
|
Payments to Non-resident sportsmen/sports
association |
Any Person |
Non- Resident |
|
For all individual/AOP/ |
10.30% |
|
BOI/Firm. |
|
|
Comapny |
10.5575% |
|
Same as in Section 193
|
Form No.16A same as in Section 193 above |
Form 27Q as in Section 193 above |
same Section 195 below
|
|
194EE |
|
Payments of deposits under NSS covered u/s.
80CCA(2)(a) Deduct if amount exceeds Rs. 2,500/- |
Any Person
|
Any Person |
|
For all individual/AOP/ |
20% |
|
BOI |
|
|
Non-resident |
20.60% |
|
Within 7 days from last day of month in which is
deduction is made |
Form No.16A as in Sec. 194B above |
Form
26Q/27A (return in electronic media) |
Declaration Form 15G/15H
|
|
194F |
|
Payment on account of repurchase of unit by mutual fund or Unit trust of
India of amount referred in Sec. 80CCB(2) |
Any Person |
Any Person |
|
For all individual/AOP/ |
20% |
|
BOI |
|
|
Non-resident |
20.60% |
|
Within 7 days from last day of month in which is
deduction is made |
Form No.16A as in Sec. 194B above |
Form
26Q/27A (return in electronic media) |
|
|
194G |
|
Commission/Remuneration on sale of lottery
tickets to any person Deduct if amount exceeds Rs. 1,000 |
Any Person |
Any Person |
For all Individuals
/HUF/BOI |
10% |
|
Co-op. Soc. |
|
Resident Co./Firm
HUF/BOI |
|
|
Non-Resident Indian |
10.30% |
|
Non-Domestic Co.. |
10.5575% |
|
Payments exceeding |
|
|
Rs. 1 Crore |
|
|
Payments less then |
|
|
Rs. 1 Crore |
10.30% |
|
|
|
|
Same as in Section 193 above
|
Form No.16A same as in Section 193 above |
— do —
|
Application Form 13
|
|
194H |
|
Commission or Brokerage Deduct if amount exceeds
Rs. 2500 p.a.
Not applicable on any commission or brokerage payable by BSNL or MTNL
to their PCO franchisees" |
Same as in Sec. 194A above |
Any
Resident Person |
|
Individual/HUF/BOI |
10% |
|
Company/Firms
etc |
10% |
|
|
|
|
Same as in Section 193 above
|
Form No.16A same as in Section 193 |
— do — |
Application Form 13 |
|
194-I |
|
Rent paid to any person resident for land,
building or building along with furniture and fittings Deduct if amount
exceeds Rs. 1,20,000 p.a. for use of any machinery
or plant or equipment; (Service Tax shall be excluded while deducting tax |
Same as in Sec. 194A above |
Any Resident Person |
|
Up to 30.09.2009 |
Rent for plant, machinery
equipments |
|
payment to Individuals
/HUF/BOI |
|
|
Company/Firms |
10% |
Rent for land, Building and
Furniture |
|
|
for Individuals/HUF |
15% |
|
Company/Firm |
20% |
|
From 1st October, 2009 |
|
Rent for plant, machinery
equipments |
|
payment to Individuals
/HUF/BOI |
|
|
Company/Firms |
2% |
Rent for land, Building and
Furniture |
|
|
for Individuals/HUF |
10% |
|
Company/Firm |
10% |
|
Same as in Section 193 above |
Form No.16A |
— do — |
Application Form 13 |
|
Rent definition up to 13-7-2006
"Rent’ means any payments, by
whatever name called, under any lease, sub lease, tenancy or any other
agreement or arrangement for the use of any land or any building (including
factory building), together with furniture, fittings and the land
appurtenant thereto, whether or not such building is owned by the payee".
Rent definition from 13-7-2006
" Rent" means any payment, by
whatever name called, under any lease, sub-lease, tenancy or any other
agreement or arrangement for the use of (either separately or together) any,
—
(i) Land; or (ii) building; or
(iii) land appurtenent thereto a building (including factory building); or (iv)
machinery; or (v) plant; or (vi) equipment; or (vii) furniture; or (viii)
fittings, whether or not any or all of the above are owned by the payee.
Thus w.e.f. 13-7-2006 even rentals of movable assets would be covered u/s.
194-I |
|
194J |
|
Fees for professional services or technical
services Deduct if amount exceeds Rs. 20000 p.a. For Individuals and HUF on
fees paid exclusively for personal purpose are exempt Rate raised from
5% to 10% w.e.f. 1-6-2007 |
Same as in Section 194A above |
Any Resident Person
|
For Individuals
/HUF/BOI |
10% |
|
Co./Firms |
|
|
Same as in Section 193 above
|
Form No. 16A same as in Section 193 above
|
Form 26Q/27A (returns in electronic media) |
Application Form 13 |
|
194LA |
|
Payments of Compensation on acquisition of
certain immovable property Deduct if amount exceeds Rs.1,00,000 p.a. |
Any Person
|
Any resident person
|
|
Individuals/HUF/BOI |
10% |
|
Payment to Co./Firms |
10% |
|
Within 7 days from last day of month in which
deduction is made |
Form No.16A as in Sec. 194B above
|
— do — |
Application Form 13 |
|
195 |
Rules 29B |
Interest or other sums not being income
chargeable under the head "Salaries" Deduct in cases other than Dividend
u/s.115-O |
Any Person |
Non- Resident not being a Company or to a
foreign Company |
|
|
As per applicable DTAA or as per Part - II of Sch. I of the Finance Act, whichever is
beneficial to the assessee |
|
|
|
|
Same as in Section 193 above |
Form No. 16A same as in Section 193 above |
Form 27Q/27A (returns in electronic media)
within 14 days of end of quarter in which deduction made or if credit is
given on last day of the accounting year then within 14 days after expiry of
2 months of closing
Refer Note No.3 |
Application Form 13 |
