18 December 2009
TDS RATES APPLICABLE FROM 01.10.2009 Section Code Nature of Payment Threshold Limit to deduct tax If the recipient is other than Individual / HUF In case recipient is an Individual / HUF 192 Payment of Salary and Wages TDS is deducted if the estimated income of the employee is taxable. N.A. Income Tax at the applicable rate on the estimated income of employee for the year. 193 Payment of Interest on Securities Rs. 5,000/- p.a. 20% 10% 194-A Interest other than interest on securities Rs.10,000/- p.a. 20% 10% Interest from Banking Company 194-A Interest other than interest on securities Rs.5,000/- p.a. 20% 10% Interest other than from Banking Company 194-C Payment to Contractor Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year 2% 1% 194-C Payment to Advertising Contractor / Sub Contractor Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year 2% 1% 194-C Payment to transport contractor / sub contractor If PAN Quoted NIL NIL 194-C Payment to transport contractor / sub contractor If PAN not quoted 2% 1% *20% from 01.04.2010 *20% from 01.04.2010 194-H Payment of commission or brokerage to resident Rs.2,500/- p.a. 10% 10% 194-I Payment of Rent Rs.1,20,000/- p.a. 10% 10% 194-I Payment of Rent for use of Plant , Machinery or Equipment Rs.1,20,000/- p.a. 2% 2% 194-J Payment of professional or technical services Rs.20,000/- p.a. 10% 10%
Note: 1. Surcharge, Education Cess and SHE Cess is not applicable for TDS. 2. w.e.f 01-10-2009, the nil rate will be applicable if the transporter quotes his PAN.If PAN is not quoted the rate will be 1% for an individual/HUF transporter and 2% for other transporters up to 31-03-2010
3. * The Rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee (including transporter) w.e.f. 01-04-2010
CAclubindia
