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TDS Rates Chart For Year 2013-14

Income Tax Act has fixed the Tax Deduction at Source (TDS) rates at which person has to do the TDS deduction from the payments. Income Tax Act has also fixed the limits of payment.i.e minimum amount after which person is liable to do the TDS on the payment like TDS will be applicable on interest payment only when the total interest payment amount is higher than Rs 5000/- Interest Payment includes Interest on Bank Fixed Deposit, Interest on Saving Account. This Limit of Rs 5000/- is also applicable on Payment of Brokerage and Commission. Similarly TDS rate of 1% is applicable on Gold Bullion and Jewellery but after the payment in cash crosses Rs 2 Lakhs.

Nature of payment made to ResidentLimit upto 30.06.2012Limit w.e.f. 01.07.2012TDS Rate (SC & Cess NIL)
194AInterest other than interest on securities5000*5000*10%
194CPayment to contractor / sub-contractor (Note 1 & 2)   
 Payment / Credit to an Individual / HUF2000030000**1%
 Payment / Credit to any person other than an Individual /HUF2000030000**2%
194DInsurance Commission200002000010%
194HCommission or Brokerage2500500010%
194IRent:
Plant & machinery
Land / Building / Furniture & Fittings
120000
120000
180000
180000
2%
10%
194JFees for professional or Technical services (2a & 2b)200003000010%
195Payment to Non Resident10-30%

 Also Read What Do We Mean by TDS

*For Bank/ Post Office threshold limit is Rs. 10000/-

**Rs. 30000/- in a single payment or Rs. 75000/- in the aggregate during financial year

If recipient does not furnish his PAN deductor, tax will be deducted @ 20% (w.e.f. 01/04/2010)

Note:

1.   If recipient is a transporter contractor (any person) and he or it furnishes his PAN to the deductor, tax is not deductible  (w.e.f. 01/10/2009) (PAN intimated to IT.Dept)

2a. Tax is deductible on the entire consideration   including service tax (if any)

2b. Remuneration paid to a director, which is not in the nature of salary, deduct TDS @10% of such remuneration w.e.f. 01/07/2012

TDS on bullion and jewellery it sale consideration receive in cash w.e.f. 01.07.2012

Limit (Rs.)

TDS Rate (Rs.)

206C(1D)

Bullion (excluding any coin or any other article weighting ten grams or less

200000

1%

206C(1D)

Jewellery

500000

1%


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