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Important Sections TDS Chart (From 1st June 2016)

Section no

Description

Cutoff

Rate of TDS

Examples

194I

Rent of

180000 p.a

10%

Office rent /godown rent/guesthouse rent

Land and Building or Furniture

Others like Plant and Machinery

2%

Generator rent, machinery hire charges

194J

Professional Service/Technical/Royalty/Non Compete fees

30000 p.a

10%

Audit fees/Bills of professionals like CA/CWA/CS, or technical service providers or consultancies covered. Employees on contract which are white collared covered here

194H

Commission/Brokerage

5000 p.a 15000 p.a

10%  5%

Commission to broker/sales agent etc

194J(1)(b)(a)

Payment to directors other than salary

0

10%

Sitting fees to director/any payment other than salary

194A

Interest paid by Banks on FD/RD

10000 p.a

10%

Savings bank interest not covered, only interest on fixed deposits and recurring deposits covered

194 A

Interest paid by Others on Loan etc

5000 p.a

10%

Interest on loan taken from banks or financial institutions not covered, only interest on loan from friends/relatives/related companies covered

194 IA

Purchase of Immovable property

4999999

1%

On purchase of property more than 50 lacs, buyer has to deduct 1% and pay balance to party

194C

Payment to Contractors

30000 Single Contract

or 75000 100000 annual

1% for Individual and HUF (2% For Others like Partnership,

Company)

All other services like payment to Security guard/courier/maintenance agency/cab service/advertisement/employees on contract which do blue collared or manual work like peon/driver etc

192A

Withdrawal of Pf before 5 Years

30000 50000 p.a

10%

If we withdraw our PF for before 5 years, then Pf department deduct 10% TDS.

 

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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