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 Goverment with in specified time. if prescribed limit of payment do not exceed there is no need for deduction of tax
| However we would like to provide you a complete chart of TDS applicable for the financial year 2011-12. | |||||
|
TDS (Tax deducted at Source) Rate chart For Financial Year 2011-12 |
|||||
| wef 01.07.10 |
TDS Rate in % |
||||
| Section | Nature of payments | Payment Thresholds | Company, firm. Co-op Society, Local authority | HUF , Individual | |
| 193 | Interest on securities | Nil | 10 | 10 | |
| 194 | Dividends | Nil | 10 | 10 | |
| 194A | Interest from a banking company | 10000 | 10 | 10 | |
| 194A | Interest other than interest on securities | 5000 | 10 | 10 | |
| 194B | Winning from Lotteries or Crossword Puzzles | 10000 | 30 | 30 | |
| 194BB | winning from Horse races | 5000 | 30 | 30 | |
| 194C | Payment to Contractors , Sub contractors | 30000 for Single transaction | 2 | 1 | |
| 75000 for aggregate of transactions during the Financial year | |||||
| 194D | Insurance Commission | 20000 | 10 | 10 | |
| 194E | Payment to non resident Sportsman/Sports association | Nil | 10 | 10 | |
| 194EE | Payment in respect of national savings scheme | 2500 | 20 | 20 | |
| 194F | Payment on account of re-purchase of units of mutual Fund | Nil | 20 | 20 | |
| 194G | Sale of Lottery Ticket | 1000 | 10 | 10 | |
| 194H | Commission on brokerage | 5000 | 10 | 10 | |
| 194I | Rent for the use of land , building, furniture and fixtures | 180000 | 10 | 10 | |
| 194I | Rent-For the use of Machinery, plant equipment | 180000 | 10 | 10 | |
| 194J | Fees for Professional , technical services | 30000 | 10 | 10 | |
| 194LA | Payment of compensation on acquisition of certain immovable property | 100000 during the FY | 10 | 10 | |