TDS / TCS RATE CHART APPLICABLE FROM 01.10.2009

N.Naveena Maheswara Rao (Assistant manager for accounts)   (1096 Points)

21 August 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  
 
6 194C Contractor / Sub-contractor in transport business ( If PAN not Quoted) - 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%.