TDS Chart

  1. No Tax is to be deducted from any sums payable to:—

  1. The Government

  2. Reserve Bank of India

  3. The Corporation established by or under a Central Act which is exempt from Income Tax by virtue of any law.

  4. A mutual fund specified under section 10(23D)

  1. Tax is to be deducted in the following cases at the time of payment:—

Sect.

Relevant Rules

Nature of Payment

Payer

Payee

Rates of Deduction

Time Limit For Depositing Tax (Rule 30)

TDS Certificate Form No./Due Date (Rule 31)

Quarterly Return/ Statement Form No. (Rules 37, 37A, 37B)

Declaration for NIL deduction/ Application for NIL/Lower deduction (Rules 28, 28AA, 28AB, 29C)
192 21A, 21AA, 26A, 26B Salary
Deduct if tax is payable on Salary income after

  1. Specified exemption u/s.10.

  2. Loss under "Income from house property"

  3. Deduction u/ss. 80C, 80CCD 80CCC, 80D, 80DD, 80DDB 80E, 80G (specified), 80GG, 80U and
    [As per section 192(1A), the employer has an option not to deduct tax at source on non-monetary perquisites provided to employees and pay the said tax himself)

Any person Any person

1/12th of tax payable
calculated in the manner
specified in column 3
and following the rates
given below  

Where the total income for an Individual Rate

< Rs. 1,10,000

NIL

> Rs. 1,10,000

10% of the amount

< Rs. 1,50,000

> Rs. 1,00,000

> Rs. 1,50,000

Rs. 4,000 +

< Rs. 2,50,000

20% of the amount

 

> Rs. 1,50,000

> Rs. 2,50,000

Rs. 25,000+ 30% of the amount
> Rs. 2,50,000.

Where the total income in case of women

Rate

< Rs. 1,45,000

Nil

> Rs. 1,45,000

10% of the amount

< Rs. 1,50,000

> Rs. 1,45,000.

> Rs. 1,50,000

Rs. 500 + 20% of the amount

< Rs. 2,50,000

> Rs. 1,50,000

> Rs. 2,50,000

Rs 20,500 + 30% of the amount
> Rs.2,50,000.

Where the total income in case of senior citizen

Rate

< Rs. 1,95,000

Nil

> Rs. 1,95,000

20% of the amount

< Rs. 2,50,000

exceeding
Rs. 1,95,000.

> Rs. 2,50,000

Rs. 11,000 + 30% of the amount
> Rs. 2,50,000

If the total income
exceeds Rs. 10,00,000,
10% surcharge is leviable
on the tax as calculated
above.

Additional 2% educational
cess is leviable on the
tax plus surcharge

Additional 1% secondary
and higher educational
cess is leviable on the
tax plus surcharge

Within 7 days from last day of month in which deduction is made Form No. 16 / Form No.16AA 30th April 24Q/27A (return in electronic media)

Rule 33
(Tax
deduction
from contri
bution paid by trustees
of an
approved super-annuation fund)

 Application Form 13
193   Interest on Securities Deduct in cases other than where amount of interest is payable

  1. by widely held company on debentures to individual does not exceed Rs. 2500/-.,

  2. to LIC/GIC and other insurance companies.

  3.  Interest on Central/State Government security.

  4. on specified securities.

 Any person Any Resident person

Company Payment

22.66%

above Rs. 1 crore

Individuals/ HUF/BOI with payment above Rs.10,00,000

11.33%

Other individuals/ HUF/ Co-op. Soc./Local authority/BOI

10.20%

Other company

20.6%

Firms payment up to Rs. 1 crore

 10.30%
Other

11.33%
within one week from last day of the month in which income paid or credited whichever is earlier. If payee’s account is credited on  last day of accounting year then within 2 months from the end of the month in which credit given Form No.16A

a)  Within one month from the end of the month in which  credit is given or the amount is paid

b) For conso- lidated certificate at the request of payee 30th April

c) If credit is given on
last day of the year
then within
7 days after expiry
of 2 months
of closing of year

 26Q/27A (return in  electronic media) Application  Form 13 Declaration Form 15G, Form 15H
194A   Interest (other than interest on Securities) Deduct in cases other than where amount of interest payable does not exceed Rs. 5000 up to 30th May, 2007 and from 1st June, 2007:-
  1. ten thousand rupees, where the payer is a banking company to which the Banking Regulation Act, 1949 applies
  2. ten thousand rupees, where the payer is a co-operative society engaged in carrying on the business of banking
  3. ten thousand rupees on any deposit with post office under any scheme framed by the Central Government and notified by it in this behalf; and
  4. five thousand in any other cases
 		Any person other than individuals and HUF who are not subject to tax audit in the preceding financial year. Any Resident

 
Company Payment above Rs. 1 crore 22.66%
Individual/HUF/BOI with payment above Rs.10,00,000 11.33%
Other individuals/ HUF/BOI 10.30%
Other company Firms payment 20.6%
exceeding Rs. 1 crore 11.33%
Other Firms/Co-op. Soc./  
Local authority 10.3%
— do —

 

 — do —

 

 26Q/ 27A (return in electronic media)

 

 Application Form 13 Declaration Form 15G,Form 15H
194B   Winnings from lottery and crossword puzzles including card game or other game or other game of any sort Deduct if amount exceeds Rs. 5,000/- (For winnings in kind see proviso) Any person

 

 Any person
Individual/HUF/
BOI with payment above Rs.10,00,000

33.99%
Other individuals/Co-op. Soc./Local authority/ HUF/BOI

30.90%
Other Company/Firms Payment above Rs. 1 crore

30.90%
Company/Firms

33.99%
Non domestic Co.

31.6725%

Within 7 days from last day of month in which deduction is made Form No.16A within one month from end of the month during which sums have been paid Form
26Q/27A (return in electronic media)		 N.A.

 
194BB   Winnings from horse races Deduct if amount exceeds Rs. 2,500/- Any person Any person
Individuals/HUF/BOI 33.99%
with payment above  
Rs.10,00,000  
Other individuals/ 33.90%
HUF/Co-op. Soc./  
Local Authority/BOI  
Other company/Firms 30.90%
Payment above  
Rs. 1 crore  
Company/Firm 33.99%
Non domestic Co. 31.67%
Within 7 days from last day of month in which deduction is made Form No.16A As in Section 194B above Form
26Q/27A (return in electronic media) 		N.A.
194C(1)   Payment to Resident Contractors Deduct if sum exceeds Rs. 20,000/- or aggregate amt. for the financial year exceeds Rs. 50,000/- Central or State Govt. or Local Authority or Corporation or Company or Co-op. Society Any Authority for housing accommo- dation etc. Any Society or Trust or University firm Any resident person who is a contractor of the payer
1. Advertising
Contracts :-		  
Individuals/HUF/BOI  1.133%
with payment above   
Rs.10,00,000  
Other individuals/ 1.03%
HUF/BOI/Co-op.  
Company/Firms 1.133%
Other Company/Firms 1.03%
2. Other Contracts :  
Individuals/HUF/BOI  2.266%
with payment above   
Rs. 10,00,000  
Other individuals/ 2.06%
Co-op. Soc. HUF/BOI  
Company/Firms 2.266%
payment exceeding  
Rs. 1 crore  
Other Company/Firms 1.03%
Within one week from last day of the month in which income paid So or credited whichever is earlier. If payee’s account is credited on last day of accounting year then within 2 months from the end of the month in which credit given Form 16A same as in Section 193 above Form
26Q/27A (return in electronic media)

 

 Application Form 13

 

 
194C(2)   Payment to resident sub- contractor Deduct if sum exceeds Rs. 20,000/- or total amount for the financial year exceeds Rs. 50,000/- Contractors referred above and Individual and HUF subject to Tax Audit in the preceding financial year. This shall not apply in respect of payments made to a contractor by any individual or a member of  a HUF exclusively for their personal purposes. Any Resident Person
Individual/HUF/BOI  1.133%
with payment above   
Rs.10,00,000/-  
Other individuals/HUF/ 1.03%
BOI/Co-op. Society  
Company/Firms/
Soc. etc.		 1.133%
Payment exceeding  
Rs. 1 crore  
Other Company/Firms 1.03%
Same as per Section 194C(1)

 

 Form No.16A same as in Section 193 above Form
26Q/27A (return in electronic media)

 

 Application Form 13

 
194D   Insurance Commission to Resident Deduct if amount exceeds Rs. 5000 Any Person Any Resident Person
Company 22.66%
Payment exceeding  
Rs. 1 crore  
Other Company 20.6%
Individuals/HUF/BOI  11.33%
with payment above   
Rs.10,00,000  
Other individuals/ 10.30%
HUF/BOI  
Payment up to 1 crore 10.3%
Other Firms 11.33%
Same as in Section 193 above

 

 Form No.16A same as in Section 193 above — do —

 

 Application Form 13

 
194E   Payments to Non-resident sportsmen/sports association No exemption Any Person Non- Resident
Individual
with payment		 11.33%
above
Rs. 10,00,000 or		  
payment exceeding  
Rs. 1 crore  
Other individual/AOP/ 10.30%
BOI/Firm etc.  
Same as in Section 193 Above

 

 Form No.16A same as in Section 193 above Form 27Q same as in Section 195 below

 

  

 
194EE   Payments of deposits under NSS covered u/s. 80CCA(2)(a) Deduct if amount exceeds Rs. 2,500/- Any Person

 

 Any Person
Individuals/HUF with  22.66%
payment above   
Rs. 10,00,000  
Other individual/HUF  20.60%
etc.  
Within 7 days from last day of month in which is deduction is made

 

 Form No.16A as in Sec. 194B above Form
26Q/27A (return in electronic media)

 

 Declaration Form 15G/15H

 
194G   Commission/Remuneration on sale of lottery tickets to any person Deduct if amount exceeds Rs. 1,000 Any Person Any Person
Individuals/HUF/BOI  11.33%
with payment above   
Rs.10,00,000  
Other Individuals/ 10.30%
HUF/BOI Co-op. Soc.  
Company/Firms 11.33%
Payments exceeding  
Rs. 1 crore  
Other Company/
Firms/		  
Co-op. Soc. 10.30%
Same as in Section 193 above

 

 Form 16A same as in Section 193 above — do —

 

 Application Form 13

 

 
194H   Commission or Brokerage Deduct if amount exceeds Rs. 2500 p.a.
  1. Rate raised from 5% to 10% w.e.f. 1-6-2007
  2. Not applicable on any commission or brokerage payable by BSNL or MTNL to their PCO franchisees"
    3.

 

 Same as in Sec. 194A above Any Person
Individual/HUF/BOI 11.33%
with payment above  
Rs. 10,00,000  
Other individuals/  
HUF/BOI Co-op. Soc. 10.30%
Company/Firms etc. 11.33%
Payment exceeding  
Rs. 1 crore  
Other Co./Firms 10.30%
Same as in Section 193 above

 

 

 Form No.16A same as in Section 193 above — do — Application Form 13
194-I   Rent paid to any person resident for land, building or building along with furniture and fittings Deduct if amount exceeds Rs. 120,000 p.a. w.e.f 1-6-2007 @ 10% for use of any machinery or plant or equipment; (Service Tax shall be excluded while deducting tax Same as in Sec. 194A above Any Person
Rent for plant,
machinery		 Same
as in
equipments  Sec. 193
Individual
payment		 above
Firms/Co.
payment		 10.3%
up to 1 crore  
Others 11.33%
Individual/HUF
with		 16.995%
payment above  
Rs. 10,00,000  
Other individuals/
HUF		 15.45%
Co./Firm/AOP/BOI
with		  
payment above  
Rs. 10,00,000 22.66%
Other
AOP/BOI/Co./		  
Firms/Soc. 20.60%
Form No. 16A same as in Section 193 above — do — — do — Application Form 13

Rent definition up to 13-7-2006

"Rent’ means any payments, by whatever name called, under any lease, sub lease, tenancy or any other agreement or arrangement for the use of any land or any building (including factory building), together with furniture, fittings and the land appurtenant thereto, whether or not such building is owned by the payee".
 

Rent definition from 13-7-2006

" Rent" means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any, —

(i) Land; or (ii) building; or (iii) land appurtenent thereto a building (including factory building); or (iv) machinery; or (v) plant; or (vi) equipment; or (vii) furniture; or (viii) fittings, whether or not any or all of the above are owned by the payee. Thus w.e.f. 13-7-2006 even rentals of movable assets would be covered u/s. 194-I
194J Fees for professional services or technical services Deduct if amount exceeds Rs. 20000 p.a. For Individuals and HUF on fees paid exclusively for personal purpose are exempt  Rate raised from 5% to 10% w.e.f. 1-6-2007 Same as in Section 194A above Any Person

 
Individuals/HUF/BOI  11.33%
with payment above   
Rs.10,00,000  
Other Individuals/ 10.3%
HUF/BOI/Soc.  
Payments to Co./Firms  
above Rs. 1 crore 11.33%
Others 10.3%
Same as in Section 193 above

 

 Form No. 16A same as in Section 193 above

 

 Form 26Q/27A (returns in electronic media) Application Form 13
194LA Payments of Compensation on acquisition of certain immovable property Deduct if amount exceeds Rs.1,00,000 p.a. Any Person

 

 

 Any resident person

 

 
Individuals/HUF/BOI  11.33%
with payment above   
Rs.10,00,000  
Other individuals/HUF 10.30%
Payment to Co./Firms 11.33%
above Rs. 1 crore  
Others 10.3%
Within 7 days from last day of month in which deduction is made Form No.16A as in Sec. 194B above

 

 		— do — Application Form 13
195 Rules 29B Interest or other sums not being income chargeable under the head "Salaries" Deduct in cases other than Dividend u/s.115-O Any Person Non- Resident not being a Company or to a foreign Company
  As per applicable DTAA or as per Part - II of Sch. I of the Finance Act, whichever is fbeneficial to the assessee

 

 Same as in Section 193 above Form No. 16A same as in Section 193 above Form 27Q/27A (returns in electronic media) within 14 days of end of quarter in which deduction made or if credit is given on last day of the accounting year then within 14 days after expiry of 2 months of closing
Refer Note No.3		 Application Form 13

Notes:

  1. Any person deducting any sum on or after April 1, 2005 shall furnish quarterly statements in Form No. 24Q and Form No. 26Q for the period ending on June 30, September 30, December 31 and March 31 in each financial year and file by July 15, October 15, January 15 and June 15 respectively.

  2. No TDS would be required to be deducted on payments made to individual, sub-contractors during the course of business of plying, hiring or leasing of goods carriages provided.

  1. The sub-contractor owns not more than two goods carriages at any time during the financial year and

  2. The sub-contractor furnishes a prescribed declaration to the payer in Form No. 15I.

  1. With effect from 1/04/2008, section 195 is amended to include the person responsible for deduction of Income Tax to furnish the information relating to payment of any sum to the non resident or to foreign company in a form and manner which will be prescribed by the board. Till date the Board has not notified the same.