Rates & Exemption limit of TDS

1/4/2009 to 31/3/2010 Who is liable to deduct? Salary (Sec. 192)

Any Employer At the time payment. of Estimated income of At average rate of tax employee is below Rs. payable by employee. 1,60,000/Same as Last year.

1/4/2010 to 31/3/2011 When to deduct? Exemption Limit Tax Rate Exemption Limit Tax Rate

Interest other than Interest on Securities (Sec. 194A)

Person other than At the time of Up to Rs. 10,000/- 10 % if paid to payment or credit Individual / HUF. when payer is bank, person other than account co-op. society or post company Individual / HUF in office covered under tax audit whichever is earlier. 20 % if paid to in last year. Up to Rs. 5,000/- in company any other case. Same as Last year.

Payment to contractor and sub-contractors (Sec. 194C)

Person other than At the time of payment or credit Individual / HUF. account Individual / HUF in covered under tax audit whichever is earlier. in last year. Single payment is more than Rs. 20,000/- or aggregate is more than Rs. 50,000/- p.a.

If

payee is Individual / HUF 1% Any other payee 2% No TDS on payment for plying, hiring or leasing goods carriage if payee provides PAN. (w.e.f. from 1/10/09)

Single payment is more than Rs. 30,000/or aggregate is more than Rs. 75,000/p.a.

If payee is Individual /
HUF 1%

Any other payee 2% No TDS on payment

for plying, hiring or leasing goods carriage if payee provides PAN.

1/4/2009 to 31/3/2010 Who is liable to deduct? When to deduct? Exemption Limit Payment of Commission or Brokerage (Sec. 194H)
Person other than At the time of Up to Rs. 2,500/payment or Individual / HUF. Individual / HUF covered credit in account is under tax audit in last whichever earlier. year. 10% Up to Rs. 5,000/10%

1/4/2010 to 31/3/2011 Tax Rate Exemption Limit Tax Rate

Payment of Rent (Sec. 194I)

Person other than At the time of payment or Individual / HUF. Individual / HUF covered credit in account is under tax audit in last whichever earlier. year.

Up to Rs. 1,20,000/p.a.

For

Rent paid to govt. is

exempt.

Plant or machinery or equipment 2% For land or building or furniture or fittings 10% (w.e.f from 1/10/09)

Up to Rs. 1,80,000/p.a.

For

Rent paid to govt. is

exempt.

Plant or machinery or equipment 2% For land or building or furniture or fittings 10% (w.e.f from 1/10/09)

Payment of Professional Fees (Sec. 194J)

Person other than At the time of Up to Rs. 20,000/payment or Individual / HUF. Individual / HUF covered credit in account is under tax audit in last whichever earlier. year. o o o 10% Up to Rs. 30,000/10%

Filing of quarterly TDS Return is compulsory for all assessee. E-filing of TDS return is compulsory for company and other persons who are covered under tax audit in last year. Penalty of Rs. 100/- per day will be levied on failure to file TDS return within due date.