TDS (Tax Deducted At Source) Rate Chart for the F Y 2014-15 A Y 2015-16
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TDS ( Tax Deducted At Source) Rate Chart for the Financial Year
2014-15 i.e. Assessment Year 2015-16 Calculate Your Income Tax For F.Y. 2014-15
Surcharge on Income-tax - Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are as follows : -
Sl.
No.
|
Section
Of Act
|
Nature
of Payment in brief
|
Cut
Off Amount
|
Rate
%
|
|
HUF/IND
|
Others
|
||||
1
|
192
|
Salaries
|
Average
Rate
|
||
2
|
193
|
Interest
on debentures
|
5000
|
10
|
10
|
3
|
194
|
Deemed
dividend
|
-
|
10
|
10
|
4
|
194A
|
Interest
other than Interest on securities (by Bank)
|
10000
|
10
|
10
|
4A
|
194A
|
Interest
other than Int. on securities (By others)
|
5000
|
10
|
10
|
5
|
194B
|
Lottery
/ Cross Word Puzzle
|
10000
|
30
|
30
|
6
|
194BB
|
Winnings
from Horse Race
|
5000
|
30
|
30
|
7
|
194C(1)
|
Contracts
|
30000
|
1
|
2
|
8
|
194C(2)
|
Sub-contracts/
Advertisements
|
30000
|
1
|
2
|
9
|
194D
|
Insurance
Commission
|
20000
|
10
|
10
|
10
|
194EE
|
Paymentsout
of deposits under NSS
|
2500
|
20
|
-
|
11
|
194F
|
Repurchase
of units by MF/UTI
|
1000
|
20
|
20
|
12
|
194G
|
Commission
on sale of lottery tickets
|
1000
|
10
|
10
|
13
|
194H
|
Commission
or Brokerage
|
5000
|
10
|
10
|
14
|
194I
|
Rent
(Land & building)
|
180000
|
10
|
10
|
Rent
(P & M , Equipment, furniture & fittings)
|
180000
|
2
|
2
|
||
15
|
194J
|
Professional/Technical
charges/Royalty & Non-compete fees
|
30000
|
10
|
10
|
16
|
194J(1)(ba)
|
Any
remuneration or commission paid to director of the company (Effective from 1 July
2012)
|
NIL
|
10
|
10
|
17
|
194LA
|
Compensation
on acquisition of immovable property
|
200000
|
10
|
10
|
18
|
194IA
|
Payment
on transfer of certain immovable property other than agricultural land(applicable only if
amount exceeds : (a) Value exceeds INR 50) (Effective from 1 June
2013)
|
1
|
1
|
|
TCS
(Tax COLLECTION AT SOURCE) RATES FOR THE F.Y. 2014-15
The Tax Collection at
Source Rates for the Financial Year 2014-15 : -
Sl.No.
|
Nature
of Goods
|
Rates
in %
|
|
1.
|
Alcoholic
liquor for human Consumption
|
1
|
|
2.
|
Tendu
leaves
|
5
|
|
3.
|
Timber
obtained under forest lease
|
2.5
|
|
4.
|
Timber
obtained by any mode other than a forest lease
|
2.5
|
|
5.
|
Any
other forest produce not being timber or tendu leaves
|
2.5
|
|
6.
|
Scrap
|
1
|
|
7.
|
Parking
lot
|
2
|
|
8.
|
Toll
plaza
|
2
|
|
9.
|
Mining
& Quarrying
|
2
|
|
10
|
Minerals,
being coal or lignite or iron ore
|
1
|
|
11
|
Bullion
or jewellery (if the sale consideration is paid in cash exceeding INR 2
lakhs)
|
1
|
|
**** No Education Cess on payment made to
resident-
Education Cess is not deductible/collectible at source in
case of resident Individual/HUF /Firm/ AOP/ BOI/ Domestic Company in respect of
payment of income other than salary.
Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is
deductible at source in case of non-residents and foreign company.
Surcharge on Income-tax - Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are as follows : -
Sl.
No.
|
Date
of ending of the quarter of the financial year
|
Due
date
|
1.
|
30th June
|
15th July
of the financial year
|
2.
|
30th September
|
15th October
of the financial year
|
3.
|
31st December
|
15th January
of the financial year
|
4.
|
31st March
|
15th
May of the financial year immediately following the financial year in which
deduction is made
|
Due date for furnishing TDS certificate to the employee or deductee or payee is
revised as under :
Sl.
No.
|
Category
|
Periodicity
of furnishing TDS certificate
|
Due
date
|
1.
|
Salary
(Form No.16)
|
Annual
|
By
31st day of May of the financial year immediately following
the financial year in which the income was paid and tax deducted
|
2.
|
Non-Salary(Form
No.16A)
|
Quarterly
|
Within
fifteen days from the due date for furnishing the ‘statement of TDS’
|
Due Date for Payment of March Month –
The time limit for deposit
of TDS for the entire month of March is rationalized to 30 April instead of two
separate time limits viz. 7 April for TDS up to 30 March and 31 May for TDS as
of 31 March.
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