New TDS Rates in simple format

Wednesday, November 18, 2009 9:51 AM By Livemail



New TDS rates applicable from 1st October, 2010

 

Section                        :           192

Head                             :           Income from Salaries

Threshold Limit              :           -nil-

For individual /HUF         :           average rate

Other Entity                   :           not applicable

 

Section                        :           194A

Head                             :           Interest from a banking company

Threshold Limit              :           Rs. 10,000/-

For individual /HUF         :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           20 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194A

Head                             :           Interest other than a banking company

Threshold Limit              :           Rs. 5,000/-

For individual /HUF         :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           20 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194C

Head                             :           Payments to Contractors

Threshold Limit              :           Rs. 20,000/- per contract or Rs. 50,000/- p.a.

For individual /HUF         :           1 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           2 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194C

Head                             :           Payments to Contractors / Sub-contractor in transport business

Threshold Limit              :           Rs. 20,000/- per contract or Rs. 50,000/- p.a.

For individual /HUF         :           nil (if PAN quoted), 1 % (if PAN not quoted)

Other Entity                   :           nil if PAN quoted), 2 % (if PAN not quoted)

 

Section                        :           194C

Head                             :           Payments to Sub-contractors / Advertising contractors

Threshold Limit              :           Rs. 20,000/- per contract or Rs. 50,000/- p.a.

For individual /HUF         :           1 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           2 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194I

Head                             :           Rent on Plant & Machinery

Threshold Limit              :           Rs. 1, 20,000/- p.a.

For individual /HUF         :           2 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           2 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194I

Head                             :           Rent other than Plant & Machinery

Threshold Limit              :           Rs. 1, 20,000/- p.a.

For individual /HUF         :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

 

Section                        :           194IJ

Head                             :           Fees for Professional / technical services

Threshold Limit              :           Rs. 20,000/- p.a.

For individual /HUF         :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

Other Entity                   :           10 % (if PAN quoted), Sec 206AA will apply (if PAN not quoted)

***

Section 206 AA:           If deductee fails to furnish PAN to deductor, the deductor shall apply highest of the following rates for deducting TDS:-

-          at the rate specified in the relevant provision of this Act; or

-          at the rate or rates in force; or

-          at the rate of 20%.

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