Tds limit
This query is : Resolved
03 August 2012
Plz send me TDS rate chart for Financial year 12-13 : assessment year 13-14.
03 August 2012
search in files / forum section.
03 August 2012
Sl. No.
Section Of Act
Nature of Payment in brief
Cut Off Amount
Rate %
01.04.2012
01.07.2012
HUF/IND
Others
1
192
Salaries
Salary income must be more then exemption limit after deductions.
Average Rate
2
193
Interest on debentures
2500
5000
10
10
3
194
Deemed dividend
-
-
10
10
4
194A
Interest other than Int. on securities (by Bank)
10000
10000
10
10
4A
194A
Interest other than Int. on securities (By others)
5000
5000
10
10
5
194B
Lottery / Cross Word Puzzle
10000
10000
30
30
6
194BB
Winnings from Horse Race
5000
5000
30
30
7
194C(1)
Contracts
30000
30000
1
2
8
194C(2)
Sub-contracts/ Advertisements
30000
30000
1
2
9
194D
Insurance Commission
20000
20000
10
10
10
194EE
Payments out of deposits under NSS
2500
2500
20
-
11
194F
Repurchase of units by MF/UTI
1000
1000
20
20
12
194G
Commission on sale of lottery tickets
1000
1000
10
10
13
194H
Commission or Brokerage
5000
5000
10
10
14
194I
Rent (Land & building)
180000
180000
10
10
Rent (P & M , Equipment, furniture & fittings)
180000
180000
2
2
15
194J
Professional/Technical charges/Royalty & Non-compete fees
30000
30000
10
10
16
194J(1)(ba)
Any remuneration or commission paid to director of the company(Effective from 1 July 2012)
NA
NIL
10
10
17
194LA
Compensation on acquisition of immovable property
100000
200000
10
10
18
194LLA
Payment on transfer of certain immovable property other than agricultural land (Finance Minister has withdraw TDS on such transaction on 07/05/2012)
(a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area)
withdrawn by Finance Minister on 07/05/2012 no tds on such transactions
withdrawn by Finance Minister no no tds on transfer of immovable property
Note:
Yearly Limit u/s 194C:Also where the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be made u/s 194C.
TDS at higher rate ie., 20% has to be made if the deductee does not provide PAN to the deductor.(read detail u/s 206AA)
No TDS on Goods Transport :No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages on furnishing of his Permanent Account Number, to the person paying or crediting such sum.(read details here No TDS on Goods Transport )
Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
In the case of Company other than Domestic Company, the rate of surcharge is @ 2.5% of Income-tax, where the income or the aggregate of such income paid or likely to be paid exceeds Rs.1,00,00,000.
NoCess on payment made to resident:Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.
Read more: http://www.simpletaxindia.net/2012/07/tds-rate-chart-fy-2012-13-tcs-rates.html#ixzz22TLp3IWM
Section Of Act
Nature of Payment in brief
Cut Off Amount
Rate %
01.04.2012
01.07.2012
HUF/IND
Others
1
192
Salaries
Salary income must be more then exemption limit after deductions.
Average Rate
2
193
Interest on debentures
2500
5000
10
10
3
194
Deemed dividend
-
-
10
10
4
194A
Interest other than Int. on securities (by Bank)
10000
10000
10
10
4A
194A
Interest other than Int. on securities (By others)
5000
5000
10
10
5
194B
Lottery / Cross Word Puzzle
10000
10000
30
30
6
194BB
Winnings from Horse Race
5000
5000
30
30
7
194C(1)
Contracts
30000
30000
1
2
8
194C(2)
Sub-contracts/ Advertisements
30000
30000
1
2
9
194D
Insurance Commission
20000
20000
10
10
10
194EE
Payments out of deposits under NSS
2500
2500
20
-
11
194F
Repurchase of units by MF/UTI
1000
1000
20
20
12
194G
Commission on sale of lottery tickets
1000
1000
10
10
13
194H
Commission or Brokerage
5000
5000
10
10
14
194I
Rent (Land & building)
180000
180000
10
10
Rent (P & M , Equipment, furniture & fittings)
180000
180000
2
2
15
194J
Professional/Technical charges/Royalty & Non-compete fees
30000
30000
10
10
16
194J(1)(ba)
Any remuneration or commission paid to director of the company(Effective from 1 July 2012)
NA
NIL
10
10
17
194LA
Compensation on acquisition of immovable property
100000
200000
10
10
18
194LLA
Payment on transfer of certain immovable property other than agricultural land (Finance Minister has withdraw TDS on such transaction on 07/05/2012)
(a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area)
withdrawn by Finance Minister on 07/05/2012 no tds on such transactions
withdrawn by Finance Minister no no tds on transfer of immovable property
Note:
Yearly Limit u/s 194C:Also where the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be made u/s 194C.
TDS at higher rate ie., 20% has to be made if the deductee does not provide PAN to the deductor.(read detail u/s 206AA)
No TDS on Goods Transport :No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages on furnishing of his Permanent Account Number, to the person paying or crediting such sum.(read details here No TDS on Goods Transport )
Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
In the case of Company other than Domestic Company, the rate of surcharge is @ 2.5% of Income-tax, where the income or the aggregate of such income paid or likely to be paid exceeds Rs.1,00,00,000.
NoCess on payment made to resident:Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.
Read more: http://www.simpletaxindia.net/2012/07/tds-rate-chart-fy-2012-13-tcs-rates.html#ixzz22TLp3IWM
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