194I

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

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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

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)

regards,

ratan


CCI Pro

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