Taxation Tidbids

Certain useful IT info & updates

TDS Rates Chart
Rates of TDS applicable for the Financial Year 2010-11
Particulars				Rates from 1.4.10 to 31.03.2011
Section	Nature of Payment	Criteria for Deduction	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
		(payment in excess of) upto
		30th June 2010
194 A	Interest from a Banking Company	Rs.10,000/- p.a	Rs.10,000/- p.a	10	10
194 A	Interest other than from a Banking	Rs.5,000/- p.a	Rs.5,000/- p.a	10	10
	Co.
194 C	Contractors	Rs.20,000/- per contract or	Rs.30,000/- per contract or Rs.75,000/- p.a	2.00*	1.00*
		Rs.50,000/- p.a
194 H	Commission or Brokerage	Rs.2500/- p.a	Rs.5,000/- p.a	10	10
194 I	Rent other than Plant, Mach.& Eqp.	Rs.1,20,000/- p.a	Rs.1,80,000/- p.a	10	10
194 I	Rent of Plant , Machinery & Equipments	Rs.1,20,000/- p.a	Rs.1,80,000/- p.a	2	2
194 J	Professional Charges	Rs.20,000/- p.a	Rs.30,000/- p.a	10	10
* No tax is to be deducted in the case the Contractor is in transport business and PAN is Quoted by him
*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
* Surcharge @ of 2.5% is applicable in following cases:
^	Payment other than salary to a foreign company whne payment or credit subject to TDS exceeds Rs. 1 Crore
*Education Cess @ 2% and SHEC @ 1%  is applicable in following cases:
^	Salary to a Resident or Non – Resident
^	Payment other than salary to a non-resident not being foreign company
^	Payment other than salary to a foreign company (payment or credit subject to TDS does not exceed Rs. 1 Crore