TDS rate chart for FY 2016-17(AY 2017-18) as per budget 2016

| 2 years ago

Sl. No Nature of payment Limit (below this no TDS) TDS rate in %
Individual/HUF Others
1 192– Salary requires calculation NA
2 192A-Premature withdrawal from EPF 30K (50K w.e.f. 01/06/2016) 10 NA
3 193 – Interest on securities 10,000 10 10
4 194 – Dividends 2,500 10 10
5 194A – Bank Interest 10,000 10 10
6 194A -Interest other than Bank 5,000 10 10
7 194B – Winning from Lotteries 10,000 30 30
8 194BB – Winnings from Horse Race 5K (10K w.e.f. 01/06/2016) 30 30
9 194C– Contractor – Single Transaction 30,000 1 2
10 194C– Contractor-During the F.Y. 75K (100K w.e.f. 01/06/2016) 1 2
11 194D – Insurance Commission 20K (15K w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016)
12 194DA–  Life insurance Policy 1,00,000 2% (1% w.e.f. 01/06/2016) NA
13 194E– Non-Resident Sportsmen or Sports Association 20% 20%
14 194EE–  NSS 2,500 20% (10% w.e.f. 01/06/2016) NA
15 194F– Repurchase Units by MFs 20% 20%
16 194G – Commission – Lottery 1K (15K w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016)
17 194H – Commission / Brokerage 5K (15K w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016) 10% (5% w.e.f. 01/06/2016)
18 194I –  Rent Land  and  Building  – F&F 1,80,000 10 10
19 194I– Rent Plant/Machinery/equipment 1,80,000 2 2
20 194IA -Transfer of certain immovable property other than  agriculture land 50,00,000 1 1
21 194J – Professional Fees 30,000 10 10
22 194LA– Immovable Property 200K (250K w.e.f. 01/06/2016) 10 10
23 194LB– Income by way of interest from infrastructure debt fund (non- resident) 5 5
24 194LB– Income by way of interest from infrastructure debt fund (non- resident) 5 5
25 194LC –  Income  by  way  of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012) 5 5
26 194LD – Interest on certain bonds and govt. Securities(from 01-06-2013) 5 5
27 196B – Income from units 10 10
28 196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) 10 10
29 196D – Income of FIIs from securities 20 20

 

Note-

1. Payee should provide his PAN to Payer so that payer can mention in TDS certificate and in TDS returns. It will help indirectly to payee to get refund easily and fast.

2. Payee must tell his PAN to the payer or deductor otherwise TDS will be deducted @ 20% or the applicable rate, whiever is higher. It is the duty of payer to ensure that PAN of payee should be correct by asking PAN copy

3. Due date of TDS payment is up to 7th day from the closing date of month in which Tax has deducted and 30th April if paid or credit in the month of march otherwise Interest of late deposit  will be liable @ 1.5% for each month of delay.

 

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