TDS Rate for F Y 2016-17 A Y 2017-18 as per Budget 2016

What is Rate of Tax Deducted at Source for Financial Year 2016-17, Assessment Year 2017-18. TDS Rates FY 2016-17 AY 2017-18.

Rate of Tax Deducted at Source (TDS) as per Finance Bill 2016 (Budget 2016) is as mentioned below. The new TDS rate is effective from 1st June 2016. Till that date TDS rates for Financial Year 2015-16 will be applicable.
 

 

 

TDS Rate Chart for FY 2016-17 AY 2017-18 applicable w.e.f. 1.6.2016

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

Rs. 2,50,000

 

 

Rs. 2,50,000

Monthly Average Rate

 

-do-

NA

 

 

NA

Section 192A Payment of accumulated balance due of Employees’ Provident Fund Scheme, 1952, to Employees Rs. 50,000/- 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) Rs. 10,000 10% 10%
Section 194A TDS on interest other than Securities (By Others) Rs. 5,000 10% 10%
Section 194B TDS on Winning from Lottery/Cross word Puzzle Rs. 5,000 30% 30%
Section 194BB TDS on Winning from Horse Race Rs. 10,000 30% 30%
Section 194C(1) TDS on Labour Contract, AMC, Work Contract, Man Power Consultancy -Single Payment

Aggregate Payment in F.Y

Rs. 30,000


Rs. 1,00,000

1%

 


1%

2%

 


2%

Section 194C(2) TDS on Sub contracts and Advertisement contracts As above 1% 2%
Section 194D TDS on Insurance Commission Rs. 15,000 10% 10%
Section 194DA Payment under life insurance policy (including Bonus) Rs. 1,00,000 1%  
Section 194G Commission on Lottery Tickets Rs. 15,000 5%  
Section 194H TDS on commission or brokerage other than insurance Commission Rs. 15,000 5% 5%
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 Rs. 1,80,000 2% 2%
Section 194IA TDS on Transfer of Immovable Property (w.e.f. 1.6.2013) Rs. 50,00,000 1% 1%
Section 194J TDS on Professional, Technical Charges, Royalty, Non Compete Fees Rs. 30,000 10% 10%
Section 194(1)(ba) TDS on Remuneration or Commission paid to Director Nil 10% 10%
194LA Payment of Compensation of acquisition of immovable property Rs. 2,50,000 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 194LBA Payment of distributed income to resident unit holder by business trust

At the time of credit or payment whichever is earlier

Payment of distributed income to non resident unit holder by business trust

  10%

 

 

 

 

10%

10%
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 10% 10%
Section 194LBC Income from Investment in Securitization Trust   25% 30%
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%
206C(1) (Viii) Motor Vehicle Value exceeding Rs. 10,00,000/- 10,00,000 1% 1%
206(1D) Sale in cash of any goods (other than Bullion and jewellery) or providing any services (other than payments on which tax is deducted under chapter VII-B) exceeding Rs. 2,00,000/- Rs. 2,00,000 1% 1%

TDS Rate Chart For FY 2016-17 & AY 2017-18. Latest TDS Rates for AY 2016-17. Scroll Down Below and check all Latest TDS Rate chart issued by Income tax Department. Latest TDS Rate Chart, TDS/TCS Rates Chart for Financial Year 2016-17 (Assessment Year 2017-1) is listed here.

You can see Income Slab and Income tax Rate for FY 2016-17 AY 2017-18 applicable for the period from 01.04.2016 to 31.03.2017 for different categories of income tax payers as per the Budget Proposal 2016-17

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