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Find the table below for the TDS (Tax Deduction at source) rates and threshold limit for financial year 2014-15 or assessment year 2015-16. In this table there is complete list of the payment on which TDS is deducted, threshold limit, assessee type (tax payer) and rate of TDS.
Also note; Threshold limit mentioned in the table below is the limit upto which no TDS will be deducted.
|
Sl. No.
|
Section of Act
|
Threshold (Rs)
|
Nature of Payment in brief
|
Rate %
|
| |
|
|
|
Individual/HUF |
Others |
| 1 |
192 |
- |
Salaries |
Average rates as applicable |
| 2 |
193 |
5000 |
Interest on debentures |
10 |
10 |
| 3 |
194 |
- |
Deemed dividend |
10 |
10 |
| 4 |
194A |
10000 |
Interest other than Int. on securities (by Bank) |
10 |
10 |
| 4A |
194A |
5000 |
Interest other than Int. on securities (By others) |
10 |
10 |
| 5 |
194B |
10000 |
Lottery / Cross Word Puzzle |
30 |
30 |
| 6 |
194BB |
5000 |
Winnings from Horse Race |
30 |
30 |
| 7 |
194C(1) |
30000 |
Payment to Contractors |
1 |
2 |
| 8 |
194C(2) |
30000 |
Payment to Sub-contracts/ Advertisements |
1 |
2 |
| 9 |
194D |
20000 |
Insurance Commission |
10 |
10 |
| 10 |
194EE |
2500 |
Payments out of deposits under NSS |
20 |
- |
| 11 |
194F |
1000 |
Repurchase of units by MF/UTI |
20 |
20 |
| 12 |
194G |
1000 |
Commission on sale of lottery tickets |
10 |
10 |
| 13 |
194H |
5000 |
Commission or Brokerage |
10 |
10 |
| 14 |
194I |
180000 |
Rent (Land & building) furniture & fittings) |
10 |
10 |
| 180000 |
Rent (P & M , Equipment) |
2 |
2 |
| 15 |
194 IA |
5000000 |
TDS on transfer of immovable property other than agriculture land (Effective from 1 June 2013) |
1 |
1 |
| 16 |
194J |
30000 |
Professional/Technical charges/ Royalty & Non-compete fees |
10 |
10 |
| 17 |
194J(1)(ba) |
- |
Any remuneration or commission paid to director of the company (Effective from 1 July 2012) |
10 |
10 |
| 18 |
194LA |
200000 |
Compensation on acquisition of immovable property |
10 |
10 |
Other Important Points:
- No surcharge and education cess to be added while deducting TDS
- As per Section 206AA, TDS is required to be deducted @ 20% if the deductee does not possess or fails to furnish PAN.
- Person submitting form 15G/15H to avoid TDS needs to submit PAN else 20% TDS will be applicable.
- Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.
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