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
NoteIn case of Pan number not available or in case of invalid PAN no. -higher of the following will be the applicable rate:
| However we would like to provide you a complete chart of TDS applicable for the financial year 2012-13. | |||||
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TDS (Tax deducted at Source) Rate chart For Financial Year 2012-13 |
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TDS Rate in % |
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| 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 | ||||
| 194E | – Applicable up to June 30, 2012 | Nil | 10 | 10 | |
| 194E | – Applicable from July 1, 2012 | Nil | 20 | 20 | |
| 194EE | Payment in respect of national savings scheme | 2500 | 20 | ||
| 194F | Payment on account of re-purchase of units of mutual Fund | 1000 | 20 | 20 | |
| 194G | Sale of Lottery Ticket | 1000 | 10 | 10 | |
| 194H | Commission / or 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 | |
| 194LB | Income by way of interest from infrastructure debt fund (non-resident) | Nil | 5 | 5 | |
| 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) | Nil | 5 | 5 | |
| 195 | Other Sums | Nil | Average rates as applicable | Nil | |
| 196C | Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) | Nil | 10 | 10 | |
| 196D | Income of FIIs from securities | Nil | 20 | 20 | |
Notes
1. In case of no PAN is available/or invalid PAN, section 206AA 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%