(AS PROPOSED BY FINANCE BILL, 2007)

DEDUCTION OF TAX: Compiled by: MANOJ PAHWA & ASSOCIATES, CHARTERED ACCOUNTANTS
(FY:2007-2008) (AY: 2008-2009) A-1/53, SECTOR-7, ROHINI, DELHI - 110085, PH: 27041741, 27061344, 27062821, 9811066276
For the months of April & May'2007
Particulars Due Date

Nature of Criteria for Actual Credit/Provision on If the recipient is a Company or Firm & payment does not exceed Rs.1,00,00,000, or receipient is
Section
Payment Deduction Payment/Credit March-31st operative Society

Secondary &
IT SC(10%) EC(2%) Higher Education
Cess (1%)

One week from the

With in 2 Months from
Payment in excess of last day of the
Sec-194A Interest the end of the month in 20.0000 0.0000 0.4000 0.2000
Rs.5,000 p.a month in which
which deduction is made.
deduction is made

Contractors & CF
Agents (incase of Payment in excess of One week from the
With in 2 Months from
Advertising Rs.20,000/- per last day of the
Sec-194C the end of the month in 1.0000 0.0000 0.0200 0.0100
Contracts) & contract or Rs.50,000 month in which
which deduction is made.
Payment to Sub- p.a deduction is made
Contrctor

Payment in excess of One week from the

With in 2 Months from
Contractors & CF Rs.20,000/- per last day of the
Sec-194C the end of the month in 2.0000 0.0000 0.0400 0.0200
Agents (Others) contract or Rs.50,000 month in which
which deduction is made.
p.a deduction is made

One week from the

With in 2 Months from
Commission or Payment in excess of last day of the
Sec-194H the end of the month in 5.0000 0.0000 0.1000 0.0500
Brokerage Rs.2,500 p.a month in which
which deduction is made.
deduction is made

One week from the

With in 2 Months from
Payment in excess of last day of the
Sec-194I Rent the end of the month in 20.0000 0.0000 0.4000 0.2000
Rs.1,20,000 p.a month in which
which deduction is made.
deduction is made

One week from the

With in 2 Months from
Rent of Plant & Payment in excess of last day of the
Sec-194I the end of the month in 20.0000 0.0000 0.4000 0.2000
Machinery Rs.1,20,000 p.a month in which
which deduction is made.
deduction is made

One week from the

With in 2 Months from
Professional Payment in excess of last day of the
Sec-194J the end of the month in 5.0000 0.0000 0.1000 0.0500
Charges Rs.20,000 p.a month in which
which deduction is made.
deduction is made
From 1st June' 2007 Onwards
Particulars Due Date

Nature of Criteria for Actual Credit/Provision on If the recipient is a Company or Firm & payment does not exceed Rs.1,00,00,000, or receipient is
Section
Payment Deduction Payment/Credit March-31st operative Society

Secondary &
IT SC(10%) EC(2%) Higher Education
Cess (1%)

Payment in excess of
Rs.5,000 p.a & Rs. One week from the
With in 2 Months from
10,000 p.a. if paid by last day of the
Sec-194A Interest the end of the month in 20.0000 0.0000 0.4000 0.2000
Banking Company, month in which
which deduction is made.
Co-operative Society deduction is made
& Post Office

Contractors & CF
Agents (incase of Payment in excess of One week from the
With in 2 Months from
Advertising Rs.20,000/- per last day of the
Sec-194C the end of the month in 1.0000 0.0000 0.0200 0.0100
Contracts) & contract or Rs.50,000 month in which
which deduction is made.
Payment to Sub- p.a deduction is made
Contrctor

Payment in excess of One week from the

With in 2 Months from
Contractors & CF Rs.20,000/- per last day of the
Sec-194C the end of the month in 2.0000 0.0000 0.0400 0.0200
Agents (Others) contract or Rs.50,000 month in which
which deduction is made.
p.a deduction is made

One week from the

With in 2 Months from
Commission or Payment in excess of last day of the
Sec-194H the end of the month in 10.0000 0.0000 0.2000 0.1000
Brokerage Rs.2,500 p.a month in which
which deduction is made.
deduction is made

One week from the

With in 2 Months from
Payment in excess of last day of the
Sec-194I Rent the end of the month in 20.0000 0.0000 0.4000 0.2000
Rs.1,20,000 p.a month in which
which deduction is made.
deduction is made

One week from the

With in 2 Months from
Rent of Plant & Payment in excess of last day of the
Sec-194I the end of the month in 10.0000 0.0000 0.2000 0.1000
Machinery Rs.1,20,000 p.a month in which
which deduction is made.
deduction is made
 One week from the
With in 2 Months from
Professional Payment in excess of last day of the
Sec-194J the end of the month in 10.0000 0.0000 0.2000 0.1000
Charges Rs.20,000 p.a month in which
which deduction is made.
deduction is made

Note: These rates are proposed in the Finance Bill' 2007, may change on enactment
 Rates

0,000, or receipient is Co-

If the recipient is a Company or Firm & payment exceeds Rs.1,00,00,000 If recipient is an Ind. Or HUF & payment does not exce

Secondary &
Total IT SC(10%) EC(2%) Higher Education Total IT SC EC(2%)
Cess (1%)

20.6000 20.0000 2.0000 0.4400 0.2200 22.6600 10.0000 0.0000 0.2000

1.0300 1.0000 0.1000 0.0220 0.0110 1.1330 1.0000 0.0000 0.0200

2.0600 2.0000 0.2000 0.0440 0.0220 2.2660 2.0000 0.0000 0.0400

5.1500 5.0000 0.5000 0.1100 0.0550 5.6650 5.0000 0.0000 0.1000

20.6000 20.0000 2.0000 0.4400 0.2200 22.6600 15.0000 0.0000 0.3000

20.6000 20.0000 2.0000 0.4400 0.2200 22.6600 15.0000 0.0000 0.3000

5.1500 5.0000 0.5000 0.1100 0.0550 5.6650 5.0000 0.0000 0.1000

 Rates

0,000, or receipient is Co-

If the recipient is a Company or Firm & payment exceeds Rs.1,00,00,000 If recipient is an Ind. Or HUF & payment does not exce

Secondary &
Total IT SC(10%) EC(2%) Higher Education Total IT SC EC(2%)
Cess (1%)

20.6000 20.0000 2.0000 0.4400 0.2200 22.6600 10.0000 0.0000 0.2000

1.0300 1.0000 0.1000 0.0220 0.0110 1.1330 1.0000 0.0000 0.0200

2.0600 2.0000 0.2000 0.0440 0.0220 2.2660 2.0000 0.0000 0.0400

10.3000 10.0000 1.0000 0.2200 0.1100 11.3300 10.0000 0.0000 0.2000

20.6000 20.0000 2.0000 0.4400 0.2200 22.6600 15.0000 0.0000 0.3000

10.3000 10.0000 1.0000 0.2200 0.1100 11.3300 10.0000 0.0000 0.2000

10.3000 10.0000 1.0000 0.2200 0.1100 11.3300 10.0000 0.0000 0.2000
ent does not exceed Rs.10,00,000 If recipient is an Ind. Or HUF & payment does exceed Rs.10,00,000

Secondary &
Secondary & Higher
Higher Education Total IT SC(10%) EC(2%) Total
Education Cess (1%)
Cess (1%)

0.1000 10.3000 10.0000 1.0000 0.2200 0.1100 11.3300

0.0100 1.0300 1.0000 0.1000 0.0220 0.0110 1.1330

0.0200 2.0600 2.0000 0.2000 0.0440 0.0220 2.2660

0.0500 5.1500 5.0000 0.5000 0.1100 0.0550 5.6650

0.1500 15.4500 15.0000 1.5000 0.3300 0.1650 16.9950

0.1500 15.4500 15.0000 1.5000 0.3300 0.1650 16.9950

0.0500 5.1500 5.0000 0.5000 0.1100 0.0550 5.6650

ent does not exceed Rs.10,00,000 If recipient is an Ind. Or HUF & payment does exceed Rs.10,00,000

Secondary &
Secondary & Higher
Higher Education Total IT SC(10%) EC(2%) Total
Education Cess (1%)
Cess (1%)

0.1000 0.0020 10.0000 1.0000 0.2200 0.1100 11.3300

0.0100 1.0300 1.0000 0.1000 0.0220 0.0110 1.1330

0.0200 2.0600 2.0000 0.2000 0.0440 0.0220 2.2660

0.1000 10.3000 10.0000 1.0000 0.2200 0.1100 11.3300

0.1500 15.4500 15.0000 1.5000 0.3300 0.1650 16.9950

0.1000 10.3000 10.0000 1.0000 0.2200 0.1100 11.3300

0.1000 10.3000 10.0000 1.0000 0.2200 0.1100 11.3300