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NEW TDS RATE FY-2009-10-30.12

NEW TDS RATE FY-2009-10-30.12

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Published by saikat12

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Categories:Types, Business/Law
Published by: saikat12 on Dec 31, 2009
Copyright:Attribution Non-commercial


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ATES APPLICABLE FROM 01.10.2009Section CodeNature of Payment
194-AInterest other than interest on securitiesInterest from Banking Company194-AInterest other than interest on securitiesInterest other than from Banking Company194-CPayment to Contracto194-CPayment to Advertising Contractor / Sub Contracto194-CPayment to transport contractor / sub contracto194-CPayment to transport contractor / sub contractoSection CodeNature of Payment194-HPayment of commission or brokerage to resident194-IPayment of Rent194-IPayment of Rent for use of Plant , Machinery or Equipment194-JPayment of professional or technical servicesNote :3. The Rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee (including transOR ACCOUNTING YEAR 2009-10 ONWARDS1. Surcharge ,Education Cess and Health Cess is not applicable for TDS.2. w.e.f 01-10-2009, the nil rate will be applicable if the transporter quotes his PAN. If PAN is not
Threshhold Limit to deduct tax
Rs.10,000/- p.a.Rs.5,000/- p.a.If PAN QuotedIf PAN not quotedThreshhold Limit to deduct taxRs.2,500/- p.a.Rs.1,20,000/- p.a.Rs.1,20,000/- p.a.Rs.20,000/- p.a.orter) w.e.f. 01-04-2010Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year quoted the rate will be 1% for an individual/HUF transporter and 2% for other transport

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