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TDS Provisions

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)

02 July 2010

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CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 02 July 2010

TAX DEDUCTED AT SOURCE

Sr. No.	Section No.	Name of the Section	Maximum amount which can be paid without tax deduction (In Rs.)	W.e.f. (For Limit of Maximum amount)	Rate of TDS
1	193	Interest on Securities	Interest on Debentures- 2500	-------	10%
2	194	Dividends [Section 2(22)(e)]	2500	-------	10%
3	194A	Interest other than Interest on Securities	Refer Book	-------	10%
4	194B	Winnings from Lotteries or Crossword Puzzles	10000	1 July 2010	Refer Table 1
5	194BB	Winnings from Horse Races	5000	1 July 2010	Refer Table 1
6	194C	Contractors or Sub Contractors	Single Payment- 30000	1 July 2010	Refer Table 2
6	194C	Contractors or Sub Contractors	Aggregate Payment- 75000	1 July 2010	Refer Table 2
7	194D	Insurance Commission	20000	1 July 2010	10%
8	194E	Payment to Non-Resident Sportsmen or Sports Association	--------	-------	10%
9	194EE	National Savings Scheme	2500	-------	20%
10	194F	Repurchase of Units of Mutual Fund		-------	20%
11	194G	Commission etc. on Sale of Lottery Tickets	1000	-------	10%
12	194H	Commission or Brokerage	5000	Thursday, 1 July 2010	10%
13	194I	Rent	180000	Thursday, 1 July 2010	Refer Table 3
14	194J	Fees for Professional or Techinal Services	30000	Thursday, 1 July 2010	10%

TABLE 1 - SECTION 194B & 194BB OF INCOME TAX ACT, 1961
			FROM APRIL 1, 2010, IF THE RECEPIENT DOES NOT FURNISHES
Sr. No.	Recepient	Rate of Tax	PAN NO., THEN TDS WILL BE DEDUCTED AT
1	Resident	30%	NORMAL RATE OR 20% WHICHEVER IS HIGHER.
2	Non-Resident (Other than Foreign Company)	30.9% (IT-30%,EC-2%,SHEC-1%)
3	Non-Domestic Company	30.9% (IT-30%,EC-2%,SHEC-1%)
	Exceeds 1 Crore	31.6725% (IT-30%,SC-2.5%,EC-2%,SHEC-1%)

TABLE 2 - SECTION 194C OF INCOME TAX ACT, 1961

Sr. No.	Recepient	Rate of Tax	FROM OCTOBER 1, 2009, IF TRANSPORTER FURNISHES PAN NO.
1	Individual/HUF	1%	THEN, THERE IS NO REQUIREMENT TO DEDUCT TDS.
2	Any Other Person	2%	IF HE DOES NOT PROVIDE, THEN
			TDS WILL BE DEDUCTED AS FOLLOWS:
			RECEPIENT (UPTO MARCH 31, 2010.)
			INDIVIDUAL/HUF	1%
			ANY OTHER PERSON	2%

TABLE 3 - SECTION 194I OF INCOME TAX ACT, 1961

Sr. No.	Rent paid for	Rate of Tax
1	Machinery, Plant, Equipment	2%	RECEPIENT (ON OR AFTER APRIL 1, 2010.)
2	Land or Building or Furniture or Fittings	10%	ANY PERSON	20%