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What is TDS Rate in India for Financial Year 2015-16? What are the Exemption Limit for Assessment Year 2016-17 (FY 2015-16)?

 

TDS Rates for Financial Year (FY) 2015-16 Assessment Year (A.Y. 2016-17)

 

 

Income Tax Act Section

Nature of Payment or Credit

Cut off Amount

Rate %Individual/
HUF

Rate % Others

Section 192

TDS on Salary

Resident individual whose total income does not exceed Rs. 500000

 

Others

 

2,50,000

 

2,50,000

 

Monthly Average Rate

-do-

 

NA

 

NA

Section 192A

Payment of accumulated balance due of Employees’ Provident Fund Scheme, 1952, to Employees (w.e.f 01-06-15)

when the amount of payment or aggregate amount of payment exceeds Rs. 30,000/-

10%

NA

Section 193

Interest on securities a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; c) any security of the Central or State Government; d) interest on any other security

At the time of credit or payment, whichever is earlier, when the amount exceeds Rs. 5,000/-

10%

NA

Section 194

Before making payment to’ shareholder, other than dividend declared U/s. 115-0, when amount exceeds Rs. 2,500/-

Rs. 2500

20%

 

Section 194A

TDS on interest other than on Securities (By Bank)

10,000

10%

10%

Section 194A

TDS on interest other than Securities (By Others)

5,000

10%

10%

Section 194B

TDS on Winning from Lottery/Cross word Puzzle

5,000

30%

30%

Section 194BB

TDS on Winning from Horse Race

2,500

30%

30%

Section 194C(1)

TDS on Labour Contract, AMC, Work Contract, Man Power Consultancy -Single Payment

 

Aggregate Payment in F.Y

30,000


 

75,000

1%

 


1%

2%

 


2%

Section 194C(2)

TDS on Sub contracts and Advertisement contracts

As above

1%

2%

Section 194D

TDS on Insurance Commission

20,000

10%

10%

Section 194DA

Payment under life insurance policy (including Bonus)

At the time of payment when the amount or the total amount during the whole year exceeds Rs. 1,00,000/-

2%

 

Section 194H

TDS on commission or brokerage other than insurance Commission

5,000

10%

10%

Section 194I

TDS on Rent -Land and Building, Furniture and Fixtures

1,80,000

10%

10%

Section 194I

TDS on Rent -Plant and Machinery, Equipments

1,80,000

2%

2%

Section 194IA

TDS on Transfer of Immovable Property (w.e.f. 1.6.2013)

50,00,000

1%

1%

Section 194J

TDS on Professional, Technical Charges, Royalty, Non Compete Fees

30,000

10%

10%

Section 194(1)(ba)

TDS on Remuneration or Commission paid to Director

Nil

10%

10%

Section 194LB

Payment of interest on infrastructure debt fund to non resident or foreign company

At the time of credit or payment whichever is earlier

5%

5%

Section 194LBB

Payment of distributed income to unit holder in respect of units of an investment fund (w.e.f 01-06-15)

At the time of credit or payment whichever is earlier

10v

10%

Section 194LC

Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)

At the time of credit or payment whichever is earlier

5%

5%

Section 194 LD

Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor

At the time of credit or payment whichever is earlier

5%

5%

Section 206C

Collection on Sale of bullion and Jewellery

At time of sale, if sale consideration is received in cash in excess of Rs. 2 Lacs .

1%

1%

 

Note : Surcharge, education cess and secondary and higher education cess will be added to the above tax rate, as applicable.

 

 

 

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