Tuesday, July 23, 2013

TDS Rates for Financial Year 2013-14 (Assessment Year 2014-15)

S. No.
Section No.
Nature of Payment in brief
Cut Off (Rs.)
Rate %
HUF/Ind.
Others
1
192
Salaries
Average Rate
2
193
Interest on debentures
5000
10
10
3
194
Deemed dividend
-
10
10
4
194A
Interest other than Int. on securities (by Bank)
10000
10
10
4A
194A
Interest other than Int. on securities (By others)
5000
10
10
5
194B
Lottery / Cross Word Puzzle
10000
30
30
6
194BB
Winnings from Horse Race
5000
30
30
7
194C(1)
Contracts
30000
1
2
8
194C(2)
Sub-contracts/ Advertisements
30000
1
2
9
194D
Insurance Commission
20000
10
10
10
194EE
Payments out of deposits under NSS
2500
20
-
11
194F
Repurchase of units by MF/UTI
1000
20
20
12
194G
Commission on sale of lottery tickets
1000
10
10
13
194H
Commission or Brokerage
5000
10
10
14
194I
Rent (Land & building) furniture & fittings)
180000
10
10
Rent (P & M , Equipment)
180000
2
2
15
194 IA
TDS on transfer of immovable property other than agriculture land (wef 01.06.13)
50 Lakh
1
1
16
194J
Professional/Technical charges/ Royalty & Non-compete fees
30000
10
10
17
194J(1)(ba) 
Any remuneration or commission paid to director of the company (Effective from 1 July 2012)
        NIL
10
10
18
194LA
Compensation on acquisition of immovable property
200000
10
10

Surcharge on tax is not deductible/collectible at source in case of resident individual/HUF/Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.

Surcharge on TDS on salary is applicable if taxable salary is more than one crore @10% because TDS on salary is to be deducted on average basis per month of annual tax liability.