Dear All,
- Cutoff amount of TDS for Contractor is 30000 for Single bill and 75000 is aggregate.
- Cutoff amount of TDS for others are single bill or aggregate bill payments. Kindly assit????
PMA Nooruddin
(M.Com, Finance Manager)
(422 Points)
Replied 16 April 2013
What Do You mean by others???
PMA Nooruddin
(M.Com, Finance Manager)
(422 Points)
Replied 16 April 2013
Its the same for Others as well, who ever falls under category 194C the rate which you mentioned will apply @ 10 % on bill or aggregate
194C covers Contracts, Labour contracts, AMC, ManPower etc etc....
| Section | Particulars | TDS | Threshold Limit |
| 192 | Salary | Normal Rate | As per normal computation of income |
| 193 | Interest on Specified Securities | 10% |
Rs. 5,000 [Rs. 2,500 upto 30-6-2012] in case of Listed Debentures payable to resident individual or a Hindu undivided family, by a company in which public are substantially interestedRs. 10,000 in case of 8% Savings (Taxable) Bonds, 2003, Rs. 10,000 in case of 6½ per cent Gold Bonds, 1977, or 7 per cent Gold Bonds, 1980, where the Bonds are held by an individual not being a non-resident, and the holder thereof makes a declaration in writing before the person responsible for paying the interest that the total nominal value of the 6½ per cent Gold Bonds, 1977, or, as the case may be, the 7 per cent Gold Bonds, 1980 No TDS on certain specified securities – see section 193 |
| 193 | Interest other Securities | 10% | |
| 194 | Dividend (Deemed) | 10% | Rs. 2,500 where shareholder is an individual |
| 194 | Dividend (Other) | Nil | |
| 194A | Interest other than interest on security | 10% |
(a) Rs. 10,000/- where the payer is a banking company (b) Rs. 10,000/- where the payer is a co-operative society engaged in carrying on the business of banking; (c) Rs. 10,000/- on any deposit with post office under any scheme framed by the Central Government and notified by it in this behalf; and (d) Rs. 5,000/- in any other case |
| 194B | Winning from Lotteries | 30% | Rs. 10,000 |
| 194BB | Winning for horse race | 30% | Rs. 5,000 |
| 194C | Payment to Individuals and HUF | 1% |
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year No TDS on GTA if PAN number of the GTA is available |
| 194C | Payment to other contractors | 2% |
Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Finance Year No TDS on GTA if PAN number of the GTA is available |
| 194D | Insurance Commission | 10% | Rs. 20,000 |
| 194E | Payment to a non-resident foreign citizen sportsman or nonresident sports association [upto 30.6.2012] | 10% | - |
| Payment to a non-resident foreign citizen sportsman / entertainer or non resident sports association [w.e.f. 1.7.2012] | 20% | - | |
| 194EE | Payment for National Saving Scheme, 1987 | 20% | Rs. 2500 |
| 194F | Payment for repurchase of units | 20% | - |
| 194G | Commission on sale of lottery ticket | 10% | Rs. 1,000 |
| 194H | Commission or Brokerage | 10% | Rs. 5,000 |
| 194I | Rent on land, building or furniture | 10% | Rs. 1,80,000 |
| 194IA | TDS on transfer of immovable propertyother than agriculture land (w.e.f. 01.06.13) | 1% | Rs. 50,00,000 |
| 194I | Rent on plant, machinery or equipment | 2% | Rs. 1,80,000 |
| 194J | Fees for Professional/Technical services | 10% | Rs. 30,000 |
| Remuneration to a director w.e.f. 1.7.2012 | 10% | ||
| 194LA | Compensation to a resident on acquisition of certain immovable property | 10% |
Rs. 2,00,000 [Rs. 1,00,000 upto 30.6.2012] |
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