05 September 2009

TDS Rate Chart For Payments to Resident

TDS Rate Chart For Payment to Residents

Section

Nature of Payment

Threshold Limit

Domestic Companies $

Resident Non Companies, i.e. Individual, HUF, AOP, BOI, etc

Deduction on payment made by

Deduction on payment made to

192


Minimum Exemption Limit

N.A.

At Normal Rate of Income Tax

Any Person

Any Individual

194A

Interest other than “Interest on securities”
received

From Banks Rs.10,000/-

10.00%

10.00%

Any Person

Any Resident

194A

Interest other than “Interest on securities”
received

From Others Rs.5,000/-

10.00%

10.0%

See Note 1

Any Resident

194B

Winnings from lottery or crossword puzzle

Rs.5,000/-

30.00%

30.00%

Any Person

Any Resident

194BB

Winnings from horse race



30.00%

30.00%

Any Person

Any Resident

194C

Payments to contractors*!

*

2.66%

2.66%

Specified

Any

upto 30th

Payments to Sub-contractors*!

*

1.33%

1.33%

Person

Resident

Sept, 2009

Payment for Advertising Contract*!

*

1.33%

1.33%

 SeeNote2



194C &

Payments to contractors*#

*

2.00%

1.00% #

Specified

Any

form 1st

Payment to Transporters#@

*

2.00%

1.00% #

Person

Resident

Oct, 2009

Payments to Sub-contractors*

*

2.00%

1.00% #

 See





Payment for Advertisement*

*

2.00%

1.00% #

Note 3



194D

Insurance commission

Rs.5,000/-

10.00%

10.00%

Any Person

Any Resident

194H

Commission or brokerage

Rs.2,500/-

10.00%

10.00%

See Note 1

Any Resident

194-I

Renton Plant/Machinery

Rs.1,20,000/-

2.00%

2.00%

See Note 1

Any Resident

194-I

Rent other then Plant/Machinery

Rs.1,20,000/-

10.00%

10.00%

See Note 1

Any Resident

194J

Fees for professional or technical services

Rs.20,000/-

10.00%

10.00%

See Note 1

Any Resident



If sucharge has been deducted for period before 1-10-2009, it need not be deducted now. If it is deposited it has to be paid and TDS certificate is to be issued

Note 1
Any person except Individuals and HUF not liable to Tax Audit

Note 2

(i) “specified person” shall mean,—
(a) the Central Government or any State Government; or
(b) any local authority; or
(c) any corporation established by or under a Central, State or Provincial Act; or
(d) any company; or
(e) any co-operative society; or
(f) any authority, constituted in India by or under any law, engaged either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both; or
(g) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India; or
(h) any trust; or
(i) any university established or incorporated by or under a Central, State or Provincial Act and an institution declared to be a university under section 3 of the University Grants Commission Act, 1956 (3 of 1956); or
(j) any Government of a foreign State or a foreign enterprise or any association or body established outside India; or
(k) any firm; or
(l) any person, being an individual or a Hindu undivided family or an association of persons or a body of individuals, if such person,—
(A) does not fall under any of the preceding sub-clauses; and
(B) is liable to audit of accounts under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum is credited or paid to the account of the contractor

Note 3

Specified Person means
(a) the Central Government or any State Government; or
(b) any local authority; or
(c) any corporation established by or under a Central, State or Provincial Act; or
(d) any company; or
(e) any co-operative society; or
(f) any authority, constituted in India by or under any law, engaged either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both; or
(g) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India; or
(h) any trust; or
(i) any university established or incorporated by or under a Central, State or Provincial Act and an institution declared to be a university under section 3 of the University Grants Commission Act, 1956 (3 of 1956) ; or
(j) any firm; or
(k) any individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, other than those falling under any of the preceding clauses, whose total sales, gross receipts or turnover from the business or profession carried on by him exceed the monetary limits specified under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum is credited or paid to the account of the contractor, shall, at the time of credit of such sum to the

Exemption limit is to be calculated for each Financial Year

* For Payment to Contractors/Sub Contractors Rs. 20000 for single payment & Rs. 50000 for aggregate Payment during a financial year.
$ Includes Education Cess 2% and Secondary and Higher Secondary Cess 1%, Surcharge not to be paid as per Finance Act (Second), 2009
# Payments to assesses other than individual and HUF will be @2.06%
@No deduction is to be made if the Transport Contractor furnishes PAN to the deductee, Payments to Transport Contract me payment to contractor during the course of business of plying, hiring or leasing goods carriages
& Applicable from 1-10-2009
! Includes Surcharges @10%, Surcharges not deductible
if the deductee gives certificate that his income is below limit on which surcharge is payable
Rates of Income Taxes in Force for Financial Year 2009-10 i.e. Assesment Year 2010-11
Rates of Taxes for Non-Residents .....................
Rates of Fringe Benefit Tax: Provisions of Fringe Benefit Tax deleted w.e.f. A.Y. 2010-11 i.e. Financial/Previous year 2009-10.
Income-tax rates on Income taxable at special rates. ......................
Rates of Tax Collected At Source .................
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