Wednesday, January 26, 2011

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




Rates of TDS for major nature of payments for the Financial Year 2010-11



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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