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tds

Kumar (Accountant) (224 Points)

26 October 2009

IS E. CESS ABOLISHED ON TDS? I WOULD LIKE TO KNOW THE CURRURENT RATE FOR THE TDS ON RENT, WHICH WAS 15.45% BEFORE.

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3 Replies

ashish gupta ( student) (1922 Points)
Replied 26 October 2009

It is 10.00 % now.

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CA Suri Kota (Assistant Manager @ EY) (955 Points)
Replied 26 October 2009

From October 1st onwards.

Rent of Plant & Machinery - 2%

Rent of Land, Building, Furniture, etc - 10%

No Surcharge and Edu.cess..........

(Guest)

TDS / TCS RATE CHART APPLICABLE FROM 01.10.2009
Sr No	Section	HEAD	Threshold Limit	Individual /HUF	Any Other Entity

1	192	Income from Salary	0	Average Tax rate	N.A.
2	194A	Interest from a Banking Company	Rs. 10,000/- p.a	10%	20%
3	194A	Interest other than from a Banking Co.	Rs. 5,000/- p.a	10%	20%
4	194C	Payment to Contractors	Rs.20,000/- per contract or Rs. 50,000/- p.a	1%	2%
5	194C	Contractor / Sub-contractor in transport business ( If PAN Quoted)	-	Nil	Nil
5	194C		-	Nil	Nil
6	194C	Contractor / Sub-contractor in transport business ( If PAN not Quoted)	-	1%	2%
6	194C		-	1%	2%
7	194C	Payment to Sub-Contract/Adv Contract	Rs.20,000/- per contract or Rs. 50,000/- p.a	1%	2%
7	194C	Payment to Sub-Contract/Adv Contract	Rs.20,000/- per contract or Rs. 50,000/- p.a	1%	2%
8	194I	Rent on Plant / Machinery	Rs. 1,20,000/- p.a	2%	2%
9	194I	Rent Other then Plant / Machinery	Rs. 1,20,000/- p.a	10%	10%
10	194J	Fees for Professional / Technical Services	Rs.20,000/-p.a	10%	10%
11	194B	Winning from Lotteries & Puzzles		30%	30%
12	194B	Winning from Horse Races		30%	30%
13	194E	Non-resident Sportsman or Sports Association		10%	10%
14	194G	Commission on Sale of Lottery Tickets		10%	10%
15	194H	Commission/Brokerage	Rs. 2,500/- p.a	10%	10%

TAX TO BE COLLECTED AT SOURCE (TCS)

16		Scrap		1%	1%
17		Tendu Leaves		5%	5%
18		Timber obtained under a forest lease or other mode		2.50%	2.50%
19		Any other forest produce not being a Timber or tendu leave
20		Alcoholic Liquor for Human Consumption		1%	1%
Note:-
TDS rates Proposed in Budget’09 Presented on July 6th, 2009 are effective from 1.10.2009
· No surcharge or Cess is applicable for TDS. Only the specified TDS rates should be considered for deduction.
The nil rate will be applicable if the transporter quotes his PAN.
TDS Rate when PAN not available: Section 206AA: If deductee fails to furnish PAN to deductor, the deductor shall apply highest of the following rates for deducting TDS:-
at the rate specified in the relevant provision of this Act; or
at the rate or rates in force;
or at the rate of 20%.