TDS Rate for Payment of Salary and Wages for FY 2014-15 (AY 2015-16)

Under Tax Deduction At Source (TDS) scheme, as prescribed in Income Tax Act every person is responsible for payment of any specified sum to any person is required to deduct Tax at Source and deposit it with central Government with in specified time. If prescribed limit of payment do not exceed there is no need for deduction of tax.

Note: In case of Pan number not available or in case of invalid PAN no. -higher of the following will be the applicable rate.

TDS Rates for Payments other than Salary and Wages to Residents (including domestic companies) for FY 2014-15 (AY 2015-16):

Section For Payment of On Payments Exceeding Individual/ Others
      HUF
193 Interest on Securites Rs. 5000/- 10% 10%
194 Deemed Dividend No minimum 10% 10%
194 A Interest other than on securities by banks Rs. 10000/- 10% 10%
194 A Interest other than on securities by others Rs. 5000/- 10% 10%
194 B Winnings from Lotteries / Puzzle / Game Rs. 10000/- 30% 30%
194 BB Winnings from Horse Race Rs. 5000/- 30% 30%
194 C (1) Payment to Contractors Rs. 30000/- for single payment 1% 2%
Rs. 75000/- for aggregate
194 C (2) Payment to Sub-Contractors / for Advertisements payment during Financial Year
194 D Payment of Insurance Commission Rs. 20000/- 10% 10%
194 EE Payment of NSS Deposits Rs. 2500/- 20% NA
194 F Repurchase of units by Mutual Funds / UTI Rs. 1000/- 20% 20%
194 G Commission on Sale of Lottery tickets Rs. 1000/- 10% 10%
194 H Commission or Brokerage Rs. 5000/- 10% 10%
194 I Rent of Land, Building or Furniture Rs. 180000/- 10% 10%
Rent of Plant & Machinery Rs. 180000/- 2% 2%
194 IA Transfer of Immovable Property (w.e.f. 01.06.2013) Rs. 50 lacs 1% 1%
194 J Professional / technical services, royalty Rs. 30000/- 10% 10%
194 J (1) Remuneration / commission to director of the company 10% 10%
194 J (ba) Any remuneration / fees / commission paid to a director of a company, other than those on which tax is deductible u/s 192. 10% 10%
194 L Compensation on acquisition of Capital Asset Rs. 100000/- 10% 10%
194 LA Compensation on acquisition of certain immovable property Rs. 200000/- 10% 10%

Note: In case of no PAN is available/or invalid PAN, section 206A A will apply, i.e., higher of the following TDS rates will be the applicable :

  • Rates specified in the relevant provisions of the Act
  • Rates or rates in force
  • At the rate of 20%
TDS Rate for Payment of Salary and Wages for FY 2014-15 (AY 2015-16)
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