|Income Tax Act Section||Nature of Payment or Credit||Cut off Amount||
|Rate % Others|
TDS on Salary
Resident individual whose total income does not exceed Rs. 500000
Monthly Average Rate
|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|
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%|
TDS on Labour Contract, AMC, Work Contract, Man Power
Consultancy -Single Payment
Aggregate Payment in F.Y
|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.
Income Tax PAN FAQ, Answers & Guidance
What is the turn over limit for tax audit? Who needs to get audited the accounts under section 44AB?
What is authority structure in case of Charitable Trust, Charitable Society, Non Governmental Organizations (NGO), Section 25 Companies and other exempted institutions?
What is the definition of Charitable Purpose? Section 2(15) of Income Tax Act- Relief to poor, Education, Medical Relief, other public utility services- Latest amendments
How to register with Income tax under Section 12A by NGO, Section 25 Company, Charitable Trust and Society? Is it necessary to Register?
What is approval u/s 80G(5)? Is it necessary for a charitable Institution? How to apply for it? What is the use of approval u/s 80G(5) for Charitable Trust, Charitable Society, Non Governmental Organizations (NGO), Section 25 Companies and other exempted institutions?
Is exemption of Income to NGO, Section 25 Company, Charitable Trust and Society can forfeiture? Provision in Section 13 for forfeiture of Exemption
What is notification u/s 35(1)(ii)/(iii)? How to apply by scientific research association, a university, college or other institutions? What is the use?
What are the modes and forms of Investment specified u/s 11(5) in the case of Charitable Trust, NGO, Charitable Society, Section 25 Companies and Charitable entities
How Charitable Institutions are assessed for Income Tax? Accumulation of surplus and utilization of NGO, Section 25 Company, Charitable Trust and Society
Who are interested persons in the case of Charitable Trust, NGO, Charitable Society, Section 25 Companies and Charitable entities? Who are relatives? List of interested persons and relatives