TDS / TCS RATES FOR F.Y. 2011-12

 

Year Section Nature of Payment Threshold Limit of Payment Individual /HUF Others
1 192 A Income from Salary

Women       Rs 1,90,000

Senior Citizen   Rs. 2,50,000

Super Senior Citizen       Rs. 5,00,000

Others         Rs. 1,80,000

Average rate of Tax + edu. Cess (no surcharge) Not Applicable
2 194 A Interest from a Banking Company Rs. 10,000 per annum 10% 10 %
3 194 A Interest other than from a Banking Co. Rs. 5,000 per annum 10% 10 %
4 194 C Payment to Contractors; Sub-contractor; Advertising Contractors

Rs. 30,000 per contract (or)

Rs. 75,000 per annum

1%

2 %
5 194-I Rent on Plant / Machinery Rs. 1,80,000 per annum 2 % 2 %
6 194-I Rent Other then Plant / Machinery Rs. 1,80,000 per annum 10 % 10%
7 194J Fees for Professional / Technical Services Rs. 30,000 per annum 10 % 10 %
8 194B Winning from Lotteries & Puzzles Rs. 10,000 per annum 30 % 30 %
9 194BB Winning from Horse Races Rs. 5,000 per annum 30 % 30 %
10 194E Non-resident Sportsman or Sports Association - 10 % 10 %
11 194D Insurance Commission Rs.20,000 per annum 10% 10 %
12 194G Commission on Sale of Lottery Tickets  Rs.1000 10 % 10 %
13 194H Commission/Brokerage Rs. 5,000 per annum 10 % 10 %
14 206C Scrap - 1 % 1 %
15 206C Tendu Leaves - 5 % 5 %
16 206C Timber obtained under a forest lease or other mode - 2.5 % 2.5 %
17 206C Any other forest produce not being a Timber or tendu leave - 2.5 % 2.5 %
18 206C Alcoholic Liquor for Human Consumption - 1 % 1 %
19 206C Packing lot, toll plaza, mining & quarrying - 2 % 2 %

 

Note:-

1. Surcharges & Education Cess



Type of Payment Surcharge (2%) Education Cess (3.00%)
Salary No Yes
Other Payments to Residents No No
Other Payments to Foreign Co. (Payment exceeds 1 cr.) Yes Yes
Other Payments to Foreign Co. (Payment upto 1 cr.) No Yes
Payments to Other Non-residents (Irrespective of amount) No Yes

 

2. Nil rate will be applicable to transporter of goods if he provides his PAN to the deductor.

3. Nil Deduction entries of transporters also to be shown in Form 26Q.

4. TDS @ 20% where PAN not furnished.

 

Interest on delay in deposit of tax after deduction

Type of Payment Surcharge (2%) Education Cess (3.00%)
From date when deductible till actual deduction 1% 1%
From date of deduction till payment 1% 1.5%