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 %|
|1||192||-||Salaries||Average rates as applicable|
|2||193||5000||Interest on debentures||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|
|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.