TDS Rate chart India | CGAS & Co, Aurangabad

Nature of payment made to Resident		Limit upto	Limit	Limit for A.Y	Limit for A.Y	Limit for A.Y	TDS Rate
Nature of payment made to Resident		30.06.10	w.e.f 01.07.10	2017-18	2018-19	2019-20	(SC & Cess Nil)
194A	Interest other than interest on securities*	5000*	5000*	Banking Rs. 10,000/- Others Rs. 5,000/-	Banking Rs. 10,000/- Others Rs. 5,000/-	Banking Rs. 50,000/- for Senior Citizens & Rs. 10,000/-for others. Other than Banking Rs. 5,000/-	10%
194B	Winning from lottery and crossword puzzles including card games and other games	5000	10000	10000	10000	10000	30%
194BB	Winning from horse races	2500	5000	5,000(up to 31.5.2016)	10000	10000	30%
194C	Payment to contractor/ Sub contractor (Note 1 & 2(a)
	Payment/ Credit to an Individual/HUF	20000	30000**	30000**	30000**	30000**	1%
	Payment/ Credit to any person other than an Individual/HUF	20000	30000**	30000**	30000**	30000**	2%
194D	Insurance Commission to Resident	5000	20000	20,000 (up to 31.5.2016)	15000	15000	5% (other than Domestic Company) 10% (for Domestic Company)
194DA	Life Insurance Policy	-	-	100000	100000	100000	1% (2% upto 31.5.2016)
194H	Commission or Brokerage	2500	5000	5,000(up to 31.5.2016	15000	15000	5% (10% upto 31.5.2016)
194-I	Rent :
	Plant & Machinery	120000	180000	180000	180000	180000	2%
	Land/ Building/Furniture & Fitting	120000	180000	180000	180000	180000	10%
194 IB	Rent for Land & Building (By certain Individual & HUF) (w.e.f 1 June ,2017)				50,000pm (or part of month)	50,000pm (or part of month)	5%
194J	Fee for professional or Technical services (Note 2(a) & 2(b))	20000	30000	30000	30000	30000	10%
For Banks/Post office threshold limit is Rs. 10,000/- w.e.f 1.7.2007. ** Rs. 30,000/- in a single payment or Rs. 100,000/- in the aggregate during financial year (Rs 75,000/- upto 31.5.2016). If recipient does not furnish his PAN to deductor, tax will be @20%.
Note: 1. If recipient is a transporter contractor (owning ten or less goods carriages at any time during the previous year and furnishes a declaration to that effect –applicable w.e.f. 1.6.2015) (any person) and he or it furnishes his PAN to the deductor, tax is not deductible. (w.e.f. 01/10/2009)(PAN intimated to IT Dept.) 2. (a) Tax is deductible on the entire consideration excluding Goods & service tax (if any). (b) W.e.f June 1, 2017, tax shall be deducted at the rate of 2% in case of payee who is engaged only in the business of operation of call center. 3. If a person failing to deduct or after deducting fails to deposit tax, he is liable to pay simple interest @ 1/1.5% for every month or part thereof from the date of failing to deduct or date of deducting till the date of depositing the same with the government

Tax Collected at Source

Limit (Rs.)

TCS Rate (Rs.)

206C(1F)

Motor Vehicle (w.e.f 1.6.2016)

10,00,000

Time Limit for submission of Form 15G/15H: Sec. 197A (2)

Deductor is required to submit to the CCIT & Principal CCIT/CIT as well (To whom AO having jurisdiction to assess the payer is subordinate) one copy of form 15G/15H within7
days of the month next following the month in which such form is furnished to him.

In Form 15G/15H, PAN has to be furnished; otherwise no certificate will be granted by Assessing Officer. In case of Form 15H, the age of senior citizen is 60 yrs w.e.f. 1.07.2012

OTHER PROVISION

Interest

Interest for late payment of demand u/s 156 -Int. @ 1% pm or part of the month from the end of 30 days of service of Demand Notice

Rate of Interest	Period of which interest payable (Per month or part thereof)
1%	From the date on which tax was deductible to the date on which tax is actually deducted
1.5%	From the date on which tax was actually deducted to the date on which tax is actually paid

COMPULSORY TAX AUDIT SECTION 44AB
Compulsory Tax audit limit (FY)	Prior to 1.4.2011	1.4.2011 to 31.03.13	1.4.2013 to 31.3.2016	1.4.2016 onwards
Any Business	40 Lakh	60 Lakh	100 Lakh	100 Lakh
Any Profession	10 Lakh	15 Lakh	25 Lakh	50 Lakh

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