| TDS Calculator A Y 2010-11 | TDS Rates A Y 2010-11 |
All persons who are required to deduct tax at source or collect tax at source on behalf of Income Tax Department are required to apply for and obtain Tax Deduction and Collection Account Number (TAN).
1. Section 192 TDS on Salary : The certificate on Form No. 16 should be issued by the deductor within one month of the close of the financial year in which deduction is made. (Rule 31 (1)(a)
2. In all other cases : The certificate on Form No. 16A should be issued by the deductor within one month of the month during which the credit is given or sum paid. (Rule 31(1)(b))
An option to the payer to issue certificate within one week after the expiry of two months from the month in which income is credited is available where the amount is credited to the account of the payee on the last day of the accounting period of the payer. This option is available in respect of payments except sec 192-salary, 194B-winning from lotteries, 194BB-winning from horse races, 194EE-payments from NSS deposits, 194F-payments in respect of repurchase of units, 194K-income in respect of units. (Rule 31(3))
Where payment in respect of TDS is permitted quarterly under rule 30(1) i.e. income from interest, insurance commission, the certificate is to be issued within 14 days of the payment of Income Tax.
Note : Where more than one certificate is required to be furnished to the payee during the financial year, then on the request of the payee, one consolidated certificate may be issued within one month from the end of such financial year.
Section 192 - Payment of Salary and Wages
Section 193 - Payment of Interest on Securities
Section 194 B - Winnings from Lotteries or Cross Word Puzzle or Card Game or any other Game
Section 194 BB - Winnings from Horse Race
Section 194 A - Payment of Interest
Section 194 C - Payment to Contractors (In case of Advertising Contracts)
Section 194 C - Payment to Contractors / Sub-contractors (In case of Other than Advertising Contracts)
Section 194 H - Payment of Commission or Brokerage
Section 194 I - Payment of Rent of Land, Building or Furniture
Section 194 I - Payment of Rent of Plant & Machinery
Section 194 J - Payment of Professional Charges
| Section 192 | Payment of Salary and Wages | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deducted if the estimated income of the employee is taxable.
Employer must not deduct tax on non-taxable allowances like conveyance allowance, rent allowance, medical allowance and deductible investments under sections like 80C, 80CC, 80D, 80DD, 80DDB, 80E, 80GG and 80U. No tax is required to be deducted at source if the estimated total income of the employee is less than the minimum taxable income. | |||
| Applicable TDS Rate | Income Tax, Surcharge and Education Cess at the applicable rate on the estimated income of employee for the year. | |||
| Section 193 | Payment of Interest on Securities | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 5,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 20.00% | 2.00% | 0.66% | 22.66% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 10.00% | 0.00% | 0.30% | 10.30% |
| Section 194 B | Winnings from Lotteries or Cross Word Puzzle or Card Game or any other Game | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 5,000/-. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 30.00% | 3.00% | 0.99 | 33.99% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 30.00% | 0.00% | 0.90 | 30.90% |
| Section 194 BB | Winnings from Horse Race | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 2,500/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 30.00% | 3.00% | 0.99 | 33.99% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 30.00% | 0.00% | 0.90 | 30.90% |
| Section 194 A | Payment of Interest | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 5,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 20.00% | 2.00% | 0.66% | 22.66% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 10.00% | 0.00% | 0.30% | 10.30% |
| Section 194 C | Payment to Contractors (In case of Advertising Contracts) | |||
|---|---|---|---|---|
| Criterion of Deduction | Payment in excess of Rs. 20,000/- per contract or Rs. 50,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 1.00% | 0.10% | 0.033% | 1.133% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 1.00% | 0.10% | 0.033% | 1.133% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 1.00% | 0.00% | 0.03% | 1.03% |
| Section 194 C | Payment to Contractors / Sub-contractors (In case of Other than Advertising Contracts) | |||
|---|---|---|---|---|
| Criterion of Deduction | Payment in excess of Rs. 20,000/- per contract or Rs. 50,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 2.00% | 0.20% | 0.066% | 2.266% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 2.00% | 0.20% | 0.066% | 2.266% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 2.00% | 0.00% | 0.060% | 2.06% |
| Section 194 H | Payment of Commission or Brokerage | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 2,500/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 10.00% | 0.00% | 0.30% | 10.30% |
| Section 194 I | Payment of Rent of Land, Building or Furniture | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 1,20,000/- per annum. Individuals and HUFs whose sales/gross receipts in business is less than Rs 40 lac or professional receipts is less than Rs 10 lac are not required to deduct TDS | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 20.00% | 2.00% | 0.66% | 22.66% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 15.00% | 1.50% | 0.495% | 16.995% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 15.00% | 0.00% | 0.45% | 15.45% |
| Section 194 I | Payment of Rent of Plant & Machinery | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 1,20,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 10.00% | 0.00% | 0.30% | 10.30% |
| Section 194 J | Payment of Professional Charges | |||
|---|---|---|---|---|
| Criterion of Deduction | TDS is deductible if payment is in excess of Rs. 20,000/- per annum. | |||
| Applicable TDS Rate | Income Tax | Surcharge | Education Cess | Total |
| If the recipient is a Company, Firm or Cooperative Society * | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment exceeds Rs. 10 lac per annum. | 10.00% | 1.00% | 0.33% | 11.33% |
| If the recipient is an Individual or HUF and payment does not exceed Rs. 10 lac per annum. | 10.00% | 0.00% | 0.30% | 10.30% |
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