Find the table below for the TDS (Tax Deduction at source) rates and threshold limit for financial year 2013-14 or assessment year 2014-15. 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 ActThreshold (Rs)Nature of Payment in briefRate %
1192-SalariesAverage rates as applicable
21935000Interest on debentures1010
3194-Deemed dividend1010
4194A10000Interest other than Int. on securities (by Bank)1010
4A194A5000Interest other than Int. on securities (By others)1010
5194B10000Lottery / Cross Word Puzzle3030
6194BB5000Winnings from Horse Race3030
7194C(1)30000Payment to Contractors12
8194C(2)30000Payment to Sub-contracts/ Advertisements12
9194D20000Insurance Commission1010
10194EE2500Payments out of deposits under NSS20-
11194F1000Repurchase of units by MF/UTI2020
12194G1000Commission on sale of lottery tickets1010
13194H5000Commission or Brokerage1010
14194I180000Rent (Land & building) furniture & fittings)1010
180000Rent (P & M , Equipment)22
15194 IA5000000TDS on transfer of immovable property other than agriculture land (Effective from 1 June 2013)11
16194J30000Professional/Technical charges/ Royalty & Non-compete fees1010
17194J(1)(ba) -Any remuneration or commission paid to director of the company (Effective from 1 July 2012)1010
18194LA200000Compensation on acquisition of immovable property1010

Other Important Points:

  1. During the Budget FY 2013-14 a new section 194IA has been added w.e.f. June 1, 2013 to deduct tax on transfer of property (other than agriculture land) at 1%.
  2. As per the provision under section 206AA relating to tax deduction at source (TDS) under the Income Tax Act 1961 which is applicable since 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. Thus, it is now necessary for persons who are submitting Form 15H and 15G  and does not have a PAN ,they must have PAN and should mention the PAN on form 15H/15G to avoid higher TDS.