Tax Deducted at Source

TDS CHART

Nature of payment made to Resident

Limit upto 30.06.2010

Limit w.e.f 01.07.2010

TDS Rate (SC and Cess Nil)

194A    

Interest other than interest on Securities

5000*

5000*

10 %

194C   

Payment to Contractor / Sub -contractor (Note 1 and 2):

 

Payment / Credit to an individual / HUF

20000

30000**

1 %

 

Payment / Credit to any person other than an individual / HUF

20000

30000**

2 %

194H   

Commission or Brokerage

2500

5000

10 %

194I   

Rent:

Plant and Machinery

120000

180000

2 %

Land/ Building/ Furniture and Fittings

120000

180000

10 %

194J    

Fees for Professional or Technical services (Note 2a and 2b)

20000

30000

10 %

*For Banks/ Post Office, threshold limit id Rs. 10,000/-
**Rs. 30,000/- in a single payment payment or Rs. 75,000/- in the aggregate during financial year.


Note:
1. If recipient does not furnish his PAN to deductor, tax will be deducted @ 20% (w.e.f 01/04/2010).
2. If recipient is a transporter contractor (any person) and he or it furnishes his PAN to the deductor, then tax is not deductible. (w.e.f 01/10/2009).
3. Tax is deductible on the entire consideration including service tax (if any).
4. Remuneration paid to a director, which is not in the nature of salary, deduct TDS @ 10 % of such remuneration w.e.f 01.07.2012.

INTEREST ON FAILURE TO DEDUCT OR PAY TAX AT SOURCE U/S 201(IA)

Rate of Interest

Period of which interest payable (Per Month or part thereof)

1 %

From the date on which tax was deductible to the date on which tax is actually deducted

1.5 %

From the date on which tax was actually deducted to the date on which tax is actually paid.