Rates Of Tds

NEW TDS RATES FROM 01.10.2009 PASSED IN FINANCE ACT(2) 2009 PASSED ON 19.08.2009 Particulars Section

Nature of Payment

194A

NEW TDS RATES% CUT OFF INDL/HU OTHER AMOUNT  F

Rs. 10,000/p.a

10

Rs. 5,000/p.a

10

Interest from a Banking Company 194A

194C

Interest other than from a Banking Co. Payment to subcontrctor/Ad vertisement contracts

Rs.20,000/per contract or Rs. 50,000/- p.a

1

2

Rs.20,000/per contract or Rs. 50,000/- p.a

1

2

194C

other Contractors 

194C

transport contractors engaged in business of plying, hiring or leasing goods carriages.

Nil *

194H

Commission Rs. or Brokerage 2,500/p.a

194I

10

Rs. 1,20,000/ - p.a

10

Rs. 1,20,000/ - p.a

2

Rent other than Plant, Mach.& Eqp. 194I

Rent of Plant , Machinery & Equipments Professional Rs.20,000 Charges /-p.a

194J

10

* The nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/ HUF transporter and 2% for other transporters upto 31.3.2010 ** The rate of TDS will be 20 per cent in all cases, if PAN is not quoted by the deductee w.e.f. 1.04.2010 No surcharge and cess is to be added from 01.04.2009 on tax deducted on non-salary payments made to resident taxpayers. It means that surcharges & cess is not be included in basic TDS rates various situation are tabulated in table given below

VARIOUS SITUATION SURCHARGE CESS APPLICABILITY Resident

STATUS Corporate

PAYMENT Other than Salaries

SUR CHARGE

CESS

N

N

Resident

Non-corporate

Other than Salaries

N

N

Resident

Non- Corporate

Salaries

N

Y

Non-Resident

Corporate

<= 1 crore

N

Y

Non-Resident

Corporate

> 1 crore

Y

Y

Non-Resident

Non-Corporate

N

Y

http://taxclubindia.com/NEWS/2009/09/tds-rates-2009-10-changes-in-tds-rates/ http://www.simpletaxindia.org/2009/07/new-tds-rate-fy-09-10-after-budget.html TCS RATES FOR FINANCIAL YEAR

Particulars Section

TCS RATES%

Nature of Payment

CUT OFF INDL/HU OTHER AMOUNT  F

206C 206C

Scrap Tendu Leaves

-

1.00% 5.00%

1.00% 5.00%

206C

Timber obtained under a forest lease or other mode

2.50%

2.50%

206C

Any other forest produce not being a Timber or tendu leave

2.50%

2.50%

206C

Alcoholic Liquor for Human Consumptio n

1.00%

1.00%

206C

Paking lot, toll plaza, mining & quarrying

2.00%

2.00%

-

NEW TDS RATES FROM 01.04.2009 to 30.09.2009 PROPOSED IN BUDGET 2009 PRESENTED ON 06/07/2009 Particulars

Rates in %  Section Nature of Payment Criteria for Deduction (payment in excess of) Payment to Individual. Or HUF payment to other  194A

Interest from a Banking Company Rs. 10,000/- p.a

10 194A

Interest other than from a Banking Co. Rs. 5,000/- p.a

10 194C

Contractors, (Advertising Contracts) & payment to sub-contrctor Rs.20,000/- per contract or Rs. 50,000/- p.a

1 1 194C

Contractors & CF Agents (Others) Rs.20,000/- per contract or Rs. 50,000/- p.a

2 2 194H

Commission or Brokerage Rs. 2,500/- p.a

10 10 194I

Rent other than Plant, Mach.& Eqp. Rs. 1,20,000/- p.a

15 20 194I

Rent of Plant , Machinery & Equipments Rs. 1,20,000/- p.a

10 10 194J

Professional Charges Rs.20,000/-p.a

10

10

No surcharge and cess is to be added from 01.04.2009 on tax deducted on non-salary payments

Read more: http://www.simpletaxindia.org/2009/07/new-tds-rate-fy-09-10-after-budget.html#ixzz0 Under Creative Commons License: Attribution

on non-salary payments made to resident taxpayers.It means that Surcharges & cess is not be included i

-after-budget.html#ixzz0Yj3Z1agC 

& cess is not be included in basic TDS rates ,while deduction tds , in case of payments to resident person

ayments to resident person/domestic company only .So in case of payment to Non resident and non -om

Non resident and non -omestic company surcharge and Cess is also to be included while calculating TDS

luded while calculating TDS amount .