Rates Of TDS

Rates Of TDS

TDS / TCS RATES  FOR F.Y.2015-16

 Section  Nature of Payment  Threshold Limit of Payment  FY (2015-16)  Form 15G/15H Applicable
192

Income from Salary

 Senior Citizen (60 Years)

  Rs. 3,00,000 Average rate of Tax +Education Cess (Surcharge if Salary > 1 Cr)  

 Super Senior Citizen (80 Years)

  Rs. 5,00,000
 Others  Rs. 2,50,000
192A Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) Rs. 30,000 10% Yes
193

Interest on Securities

 Rs. 5,000

 10% Yes
194A

Interest from a Banking Company

 Rs. 10,000 per annum

 10% Yes
194A

Interest other than from a Banking Company

  Rs. 5,000 per annum 10% Yes
194B

Winning from Lotteries & Cross Word Puzzles

  Rs. 10,000 per annum 30% -
194BB

Winning from Horse Races

 Rs. 5,000 per annum

 30%                           -
194C

Transporters with valid PAN & to whom 44AE applicable

    -   0% -
194C Payment to Contractors; Sub-contractor; Advertising Contractors (including other transporters)
  30,000 per contract (or)
 Rs. 75,000 per annum
Individual/HUF 1% Others 2% -
194D Insurance Commision Rs.20,000 10% -
194DA

Payment under life insurance policy (including Bonus)

 Rs.1,00,000 per annum

 2% Yes
194E

Non-resident Sportman or Sports Association

 -

 20% -
194EE

Out of deposit under NSS

  Rs.2,500

 
Individual or HUF 20%
 Other NA
Yes
194G

Commission on Sale of Lottery Tickets

 Rs.1,000

 10% -
194H Commission/Brokerage  Rs. 5,000 per annum 10% -
194- I Rent on Plant / Machinery Rs. 1,80,000 per annum 2% -
194-I

Land or building or furniture or fitting

 Rs. 1,80,000 per annum

 10% -
194- IA Payment or transfer of Non agricultural immovable property  Rs. 50,00,000 & above 1% -
194J Fees for Professional / Technical Services Rs. 30,000 per annum 10% -
194LA Compulsory Acquisition of immovable Property Rs. 2,00,000 10% -
TCS Rates
206C

Scrap

 -

 1.00%  
206C

Tendu Leaves

 -

 5.00%  
206C

Timber obtained under a forest lease or other mode

 -

 2.50%  
206C

Any other forest produce not being a Timber or tendu leave

 -

 2.50%  
206C

Alcoholic Liquor for Human Consumption

 -

 1.00%  
206C

Packing lot, toll plaza, mining & quarrying

 -

 2.00%  
206C Purchase of Bullion/ Jewellery in cash

Rs. 2 Lacs per transaction (Bullion)

Rs. 5 Lacs per transaction (Jewellery)

 1.00%  
206C Purchase of coal lignite, Iron ore by a trader - 1.00%  



 
Notes
1. Surcharges & Education Cess
 
Type of Payment Surcharge Rate Education Cess (3.00%)
Salary (Resident & Non- resident) Upto 1cr Nil Yes
> 1 Crore 10%
Other Payments to Residents No Nil No
Other Payments to Non-Residents      
Payment to Non-Residents (other than Cos) Upto 1cr Nil Yes
> 1 Crore 10%
Payments to Foreign Co. Upto 1cr Nil Yes
> 1 Crore 2%
> 10 Crores 5%

2. Nil Deduction entries of transporters also to be shown in Form 26Q.
3. TDS @ 20%(minimum) where PAN not furnished.
4. Benefit of Marginal Relief from surcharge shall be available where income exceeds 1 cr.
Fees and Penalties



Section Description FY (2014-15)
234E Fee for late filing of  TCS/ TCS return

Rs 200 per day (not exceeding amount of tax)
271H(1) (a)

Penalty for Late filing of  TCS/TCS return beyond 1 year

Minimum  Penalty : Rs. 10,000

Maximum  Penalty : Rs. 1 lac
271H(1) (b) Penalty for providing incorrect information in TDS/TCS Return

Minimum  Penalty : Rs. 10,000

Maximum  Penalty : Rs. 1 lac
 



Interest on delay in deposit of tax after deduction

Stage of deduction

Rate per month or part of the month

From date when deductible till actual deduction

  1.00%

From date of deduction till payment

  1.50%