04 December 2008
TDS Chart CHART SHOWING THE TDS RATES FOR VARIOUS SECTION OF THE INCOME-TAX ACT 1961 TDS CHART FOR THE YEAR 1-4-2008 TO 31-3-2009 Sl. No. Section of Act Nature of Payment in Brief Rate for NonCompany% Rate for Company% Date within which TDS has to be remitted Qtrly. Return Form No. 1. 192 Salaries Average rate - Within 1 week from last day of the month in which the deduction is made 24Q 2. 193 Interest on Securities > Rs.10,000(upto 31/05/07 Rs. 2,500) 10 20 -do- 26Q 3. 194A Interest other than Interest on securities > Rs.10,000
10 20 -do- 26Q 4. 194B Lottery / Cross Word Puzzle > Rs.5,000 30 30 -do- 26Q 5. 194BB Winnings from Horse Race > Rs.2,500 30 30 -do- 26Q 6. 194C(1) Contracts > Rs.20,000) 2 2 -do- 26Q 7. 194C(2) Sub-contracts/Advertisements > Rs.20,000 1 1 -do- 26Q 8. 194D Insurance Commission > Rs.5,000 10 20 -do- 26Q 9. 194EE Refund of NSS > Rs.2,500 20 - On the day of deduction itself 26Q 10. 194F Repurchase of units by MF/UTI 20 - Within 1 week from last day of the month in which the deduction is made 26Q 11. 194G Commission on sale of lottery tickets > Rs.1,000 10
10 -do- 26Q 12. 194H Commission or Brokerage > Rs.2,500 10 10 -do- 26Q 13. 194I Rent paid for a. Land b. Buildings c. Land appurtenant to a building(including factory building) d. Plant & Machinery e. Equipment f. Furniture & Fittings > Rs.1,20,000 15(Individual & HUF) 20(Others) 20 -do- 26Q 14. 194J Professional/Technical charges/Royalty & Non-compete fees > Rs.20,000 10 10 -do- 26Q 15. 194LA Compensation on acquisition of immovable property > Rs.1,00,000 w.e.f.01/10/2004 10 10 -do- 26Q 16. 195/196B/196C/196D/ 196E Payment to non-residents Rates in force Rates in force -do- 27Q
NOTES : • Where income referred in Sections 193, 194A, 194C, 194D, 194G, 194H, 194I & 194J is credited to account of payee as on date up to which accounts are made, TDS has to be deposited in Government Account within 2 months from the end of the month in which the date falls. • Also where the aggregate of the amounts paid/credited or likely to be paid/credited exceeds Rs.50,000 during the financial year, TDS has to be made. Where any sum credited/paid or likely to be credited/paid to Contactor or Sub-contractor exceeds Rs.20,000, TDS is to be made.
• An Individual or a Hindu Undivided Family whose total sales, gross receipts or turnover from business or profession carried on by him exceeds the monetary limits under Clause (a) or (b) of Sec.44AB during the preceding financial year shall also be liable to deduct tax u/s.194A,194C, 194H, 194I & 194J.
TCS CHART FOR THE YEAR 1-4-2008 TO 31-3-2009
Sl.No. Nature of Goods Rates in %
1. Alcoholic liquor for human Consumption 1
2. Tendu leaves 5
3. Timber obtained under forest lease 2.5
4. Timber obtained by any mode other than a forest lease 2.5
5. Any other forest produce not being timber or tendu leaves 2.5
6. Scrap 1
7. Parking lot 2
8. Toll plaza 2
9. Mining & Quarrying 2
• Quarterly Statement for TCS to be filed in Form No.27EQ
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