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194I

Osheen Bhattacharya (CA Final) (241 Points)

16 April 2010

latest amendment in sec 194I-TDS on rent(change in rates)?

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2 Replies

Nicky (Chartered Accountant) (245 Points)
Replied 17 April 2010

See there is no chane in rates but the threshold limit has been changed from Rs. 1,20,000/- p.a. to Rs. 1,80,000/- p.a, but the same is appliacale from 1-7-2010

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Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 17 April 2010

TDS(tax deducted at Source) Rate chart For Financial Year 2010-11
		Threshhold		Company,firm.Co-op Society,Local authority	HUF , Individual
Section	Nature of payments	up to 30.06.10	wef 01.07.10	Rate in %
194A	Interest From Bank	10000	10000	10	10
194A	Other Interest	5000	5000	10	10
194B	Winning from Lotteries	5000	10000	30	30
194BB	winning from Horse races	2500	5000	30	30
194C	Payment to Contractors , Pay to Advt/Sub Contr , Payment to Transportor	20000(50000 in a year)	30000 (75000 IN year)	2	1
194D	Insurance Commission	5000	20000	10	10
194H	Commission/Brokerage	2500	5000	10	10
194I	Rent-property	120000	180000	10	10
194I	Rent-Plant / Machinery	120000	180000	2	2
194J	Professional Fees	20000	30000	10	10
Note -1	For Section 194C Rs. 20000 for single payment & Rs. 50000/75000 for aggregate Payment during a financial year.
Note -2	Payment Made to Transportor ,Tds is Not required If pan is provided By the Transportor
Note-3	Surcharge and Cess Is not applicable on tds from 01,04,2009 on any payment made to resident.
Note-4	If pan not provided by the deductee then rate as per above table or 20% which ever is higher is to be charged.(effective from 01.04.2010 section 206AA)