Scribd Logo
Upload

Welcome to Scribd!

  • 37 views

    TDS Rates On Payments Other Than Salary and Wages To Residents (Including Domestic Companies)

    Uploaded by

    Prince Raichand
    This document outlines the tax deducted at source (TDS) rates for various types of payments made to residents of India other than salary, including interest, rent, winnings, professional fees, and others. It provides the threshold amounts for each section above which TDS applies and the rates for individuals/HUFs and other entities. The document also specifies the due dates for filing quarterly TDS statements and issuing TDS certificates to deductees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    TDS Rates On Payments Other Than Salary and Wages To Residents (Including Domestic Companies)

    Uploaded by

    Prince Raichand
    37 views3 pages
    This document outlines the tax deducted at source (TDS) rates for various types of payments made to residents of India other than salary, including interest, rent, winnings, professional fees, and others. It provides the threshold amounts for each section above which TDS applies and the rates for individuals/HUFs and other entities. The document also specifies the due dates for filing quarterly TDS statements and issuing TDS certificates to deductees.

    Original Description:

    Tax Deduction at Source

    Original Title

    TDS

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines the tax deducted at source (TDS) rates for various types of payments made to residents of India other than salary, including interest, rent, winnings, professional fees, and others. It provides the threshold amounts for each section above which TDS applies and the rates for individuals/HUFs and other entities. The document also specifies the due dates for filing quarterly TDS statements and issuing TDS certificates to deductees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    37 views3 pages

    TDS Rates On Payments Other Than Salary and Wages To Residents (Including Domestic Companies)

    Uploaded by

    Prince Raichand
    This document outlines the tax deducted at source (TDS) rates for various types of payments made to residents of India other than salary, including interest, rent, winnings, professional fees, and others. It provides the threshold amounts for each section above which TDS applies and the rates for individuals/HUFs and other entities. The document also specifies the due dates for filing quarterly TDS statements and issuing TDS certificates to deductees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    TDS Rates on Payments other than Salary and Wages to Residents (including domestic

    companies)

    On
    Section For Payment of Payments Individual/HUF Others
    Exceeding
    193 Interest on Debentures Rs. 5000/- 10% 10%
    194 Deemed Dividend No 10% 10%
    minimum
    194 A Interest other than on securities by banks Rs. 10000/- 10% 10%
    194 A Interest other than on securities by others Rs. 5000/- 10% 10%
    194 B Winnings from Lotteries / Puzzle / Game Rs. 10000/- 30% 30%
    194 BB Winnings from Horse Race Rs. 5000/- 30% 30%
    194 C (1) Payment to Contractors Rs. 30000/- 1% 2%
    194 C (2) Payment to Sub-Contractors / for Advertisements for single
    payment
    Rs. 75000/-
    for
    aggregate
    payment
    during
    Financial
    Year

    194 D Payment of Insurance Commission Rs. 20000/- 10% 10%


    194 EE Payment of NSS Deposits Rs. 2500/- 20% NA
    194 F Repurchase of units by Mutual Funds / UTI Rs. 1000/- 20% 20%
    194 G Commission ons Sale of Lottery tickets Rs. 1000/- 10% 10%
    194 H Commission or Brokerage Rs. 5000/- 10% 10%
    194 I Rent of Land, Building or Furniture Rs. 10% 10%
    180000/-
    Rent of Plant & Machinery Rs. 2% 2%
    180000/-
    194 IA Transfer of Immovable Property (w.e.f. 01.06.2013) Rs. 50 lacs 1% 1%
    194 J Professional / technical services, royalty Rs. 30000/- 10% 10%
    194 J (1) Remuneration / commission to director of the company - 10% 10%
    194 J (ba) Any remuneration / fees / commission paid to a director of a - 10% 10%
    company, other than those on which tax is deductible u/s 192.
    194 L Compensation on acquisition of Capital Asset Rs. 10% 10%
    100000/-
    194 LA Compensation on acquisition of certain immovable property Rs. 10% 10%
    200000/-

    Notes:
    1. No surcharge or education cess is deductible / collectible at source on payments made to
    residents {Individuals / HUF / Society / AOP / Firm / Domestic Company) on payment of incomes
    other than salary or wages.
    2. TDS at higher rate of 20% has to be deducted if the deductee does not provide PAN to the
    deductor.(section 206AA)
    All persons who are required to deduct tax at source or collect tax at source on behalf of Income
    Tax Department are required to apply for and obtain Tax Deduction or Tax Collection Account
    Number (TAN).

    Issue of TDS Certificate


    1. Section 192 (TDS on Salary):
    The certificate on Form No. 16 should be issued by the deductor by 31st day of May of the
    financial year immediately following the financial year in which the income was paid and tax
    deducted.
    2. In all other cases:
    The certificate on Form No. 16A should be issued within fifteen days from the due date for
    furnishing the "statement of TDS" under rule 31A.

    Forms for submitting Quarterly Statements of Tax Deducted at Source (Rule 31A)
    (a) Statement of deduction of tax under section 192 in Form No. 24Q
    (b) Statement of deduction of tax under sections 193 to 196D in:
    1. Form No. 27Q in respect of the deductee who is a non-resident not being a company or a
    foreign company or resident but not ordinarily resident;
    2. Form No. 26Q in respect of all other deductees.
    Due Dates for submitting Quarterly Statements of Tax Deducted at Source (Rule 31A)
    Date of ending of the quarter of
    Due date, if deductor is an office of the Government Due Date for others
    the financial year
    30th June 31st July of the financial year 15th July of the financial
    year
    30th September 31st October of the financial year 15th October of the
    financial year
    31st December 31st January of the financial year 15th January of the
    financial year
    31st March 15th May of the financial year immediately following the 15th May of the
    financial year in which deduction is made financial year
    immediately following
    the financial year in
    which deduction is
    made.

    You might also like