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Tuesday, December 28, 2010

TDS Rates for F.Y. 2010-11, A.Y. 2011-12 After all Amendments

Friends,

TDS Rates: The below given chart is about TDS Rates for f.y.2010-11, a.y. 2011-12 i.e from 1-4-2010 to 31-03-2011. The below give TDS after all amendments done by the CBDT notifications and circulars. The TDS rates chart has mentioned for all payment and about payee status to deduct TDS accordingly.
 
TDS Rates Chart

Rates of TDS for major nature of payments for the Financial Year 2010-11
Particulars Rates from 1.4.10 to 31.03.2011
Section Nature of Payment Criteria for Deduction (payment in excess of) upto
30th June 2010
Criteria for Deduction (payment in excess of) w.e.f. 1st July 2010 If the recipient is a Company, Co- operative Society, Firm If recipient is an Indivudual or HUF
194 A Interest from a Banking Company Rs.10,000/- p.a Rs.10,000/- p.a 10.00 10.00
194 A Interest other than from a Banking Co. Rs.5,000/- p.a Rs.5,000/- p.a 10.00 10.00
194 C Contractors Rs.20,000/- per contract or Rs.50,000/- p.a Rs.30,000/- per contract or Rs.75,000/- p.a 2.00* 1.00*
194 H Commission or Brokerage Rs.2500/- p.a Rs.5,000/- p.a 10.00 10.00
194 I Rent other than Plant, Mach.& Eqp. Rs.1,20,000/- p.a Rs.1,80,000/- p.a 10.00 10.00
194 I Rent of Plant , Machinery & Equipments Rs.1,20,000/- p.a Rs.1,80,000/- p.a 2.00 2.00
194 J Professional Charges Rs.20,000/- p.a Rs.30,000/- p.a 10.00 10.00

* No tax is to be deducted in the case the Contractor is in transport business and PAN is Quoted by him

*Interest of late deposit of TDS is proposed to be increased from 12% p.a to 18% p.a effective from 1st July 2010. Notes: (1) Due date of payments is as under:

(a) Credit/Paid in the month of March – 30th April

(b) Any other case – On or before 7 days from the end of the month in which deduction is made.

(2) With effect from 1st April 2010, in case the receiver of the sum does not have PAN, then the deduction has to be made @ 20% or higher rate

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