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TDS on Interest w.e.f.1-10-09

DIPAK AGARWAL (Service) (554 Points)

17 November 2009

At what % tds on interest to be deductable from Individual & HUF & others w.e.f. 1-10-2009

I think it is 10% for Individual & HUF & 20% for companies & firm deductees?

pl. some one confirm whether i am right.

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7 Replies

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 17 November 2009

I think 10%

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Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14487 Points)
Replied 17 November 2009

read by this link all about TDS/TCS

https://www.caclubindia.com/forum/message_display.asp?group_id=54836

jagdishkumar Ratanlal Solanki (ARTICLE ) (32 Points)
Replied 17 November 2009

I REQUIRE THE CHART TDS RATES

Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14487 Points)
Replied 17 November 2009

Read by above link select area,copy,and paste in msword & Print it.

TRILOCHAN (SENIOR ACCOUNTANT) (698 Points)
Replied 18 November 2009

RATE OF TDS ON INTEREST PAYNET TO INDIVIDUAL, HUF, FIRM & COMANY IS ONLY 10%, 205 IS WRONG

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CA Devanshi Gandhi (Ajani) (FCA DISA Mcom CIFRS & LLB) (9058 Points)
Replied 18 November 2009

TDS RATES FOR THE A.Y. 2010-11 (in %)

Section	Nature of Payment	Threshold Limit (in Rs.)	An Individual, HUF, BOI, AOP Payments	Firm	A Co-op.Soc., Local Authority	Domestic Company	Foreign Company Payments
							< 1 crore	> 1 crore
192	Salary	*	Normal Rate	N.A.	N.A.	N.A.	N.A.	N.A.
* after considering deduction u/Ch VIA – Male : Rs. 1,60,000; Female : Rs. 1,90,000; Senior citizen : Rs. 2,40,000
193	Interest on Securities (i) Interest on Debentures or securities (Listed)	2,500	10	10	10	10	20.6	21.115
	(ii) Interest on 8% Savings (Taxable) Bonds, 2003	10,000	10	10	10	10	20.6	21.115
	(iii) Any Other Interest on securities (Unlisted)	Any Amount	10	10	10	10	20.6	21.115
194	Dividend other than dividend covered by Section 115-O	2,500	10	10	10	10	20.6	21.115
194A	Interest other than interest on securities (cases other than below) -Where the payer is-	5,000	10	10	10	10	20.6	21.115
	(I) Banking company	10,000	10	10	10	10	20.6	21.115
	(ii) Co-operative Society engaged in banking	10,000	10	10	10	10	20.6	21.115
	(iii) Post office under a deposit scheme a deposit scheme framed by Central Government	10,000	10	10	10	10	20.6	21.115
194B	Winning from Lotteries	5,000	30	30	30	30	30.9	31.673
194BB	Winnings from Horse Races	2,500	30	30	30	30	30.9	31.673
194C	Payment to Contractors	20,000** for all cases
	A Up to 30.09.2009 Advertisement Contracts		1	1	1	1	1.03	1.088
	Sub-Contractors Payments		1	1	1	1	1.03	1.088
	Other Contracts		2	2	2	2	2.06	2.175
	B W.E.F. 1.10.2009 All Contracts (Other then Transport Contract)		1	2	2	2	2.06	2.175
	Transport Contract $		Nil	Nil	Nil	Nil	Nil	Nil
** The payments in a year in excess of Rs. 50,000 in a year also attracts TDS at above rates
$ The Nil rate is applicable only if the PAN details are obtained from the Transport Contractors
194D	Insurance Commission	5,000	10	10	10	20	NA	NA
194E	Non-Resident sportsman/sports association/s	Any Amount	10.3	NA	10.3	NA	10.3	10.558
194EE	Deposits under NSS and if the payment is to	2,500
	Resident		20	NA	NA	NA	NA	NA
	Non-Resident		20.60	NA	NA	NA	NA	NA
194F	Repurchase of units of MF/UTI	Any Amount
	Resident		20	NA	NA	NA	NA	NA
	Non-Resident		20.60	NA	NA	NA	NA	NA
194G	Commission on sale of lottery tickets to	1,000
	Resident		10	10	10	10	10.3	10.558
	Non-Resident		10.3	10.3	10.3	10.3	NA	NA
194H	Commission or brokerage Brokerage to resident	2,500	10	10	10	10	NA	NA
194I	Rent to Resident
	A Up to 30.09.2009 Rent for	120,000
	(a) machinery/ plant/ equipments paid to		10	10	10	10	NA	NA
	(b) For Land/ Building		15	20	20	20	NA	NA
	B W.E.F. 1.10.2009 Rent for	120,000
	(a) machinery/ plant/ equipments paid to		2	2	2	2	NA	NA
	(b) For Land/ Building		10	10	10	10	NA	NA
194J	Fees for Professional Fees	20,000	10	10	10	10	NA	NA
	Technical Services to Resident
194LA	Compensation to Resident for compulsory acquisition of immovable property	100,000	10	10	10	10	NA	NA
196B	Income from units (including long-term capital gain on transfer of such units) to an offshore fund	—	NA	NA	NA	NA	10.3	10.558
196C	Income from foreign currency bonds or GDR of Indian company	—	NA	NA	NA	NA	10.3	10.558
196D	Income of FII from Securities not being dividend, long-term and short-term capital gain	—	NA	NA	NA	NA	20.6	21.115

TCS RATES FOR THE A.Y. 2010-11 (in %)
Section	Nature of Payment	Threshold Limit (in Rs.)	An Individual, HUF, BOI, AOP Payments	Firm	A Co-op.Soc., Local Authority	Domestic Company	Foreign Company Payments
206C	Scrap	Any Amount	1	1	1	1	1.03	1.0875
206C	Tendu leaves	Any Amount	5	5	5	5	5.15	5.279
206C	Timber and Other Forest Produce	Any Amount	2.5	2.5	2.5	2.5	2.575	2.640
206C	Alcoholic liquor for	Any Amount	1	1	1	1	1.03	1.088
206C	Receipts for arrangement Lease, Licence plaza, mining and other such agreements for quarrying parking lot, toll plaza, mining and quarrying	Any Amount	2	2	2	2	2.06	2.175