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TDS Rates Chart for the A.Y.2012-13 (F.Y. 2011-12 )

Friday, December 2, 2011

Friends,

Here are the Rates of TDS to be implemented on the Payments made by you  in  the Financial Year 2011-12 (Assessment Year 2012-13). With the help of this table one will feel very easy to deduct TDS correctly. be With effect from 1-4-2010, the deductee shall furnish his PAN (Permanent Account Number) to deductor, failing which tax at the below rates of TDS or at the rate of  20% whichever is higher shall be deducted at source. Where PAN provided to the deductor is invalid or does not belong to the deductee, it shall be deemed that deductee has not furnish his PAN to the deductor and higher rate of TDS as mentioned below shall be applicable.

IBPS Common Written Examination (CWE) 2012 for Clerical Cadre (IBPS-CWE-Clerk-II)

No surcharge, education cess and secondary and higher education cess is leviable for the financial year 2010-11 onwards for TDS purposes in case of payment to resident. But in respect of TDS on salary, cess will be leviable.

TDS Rates Chart Assessment Year 2012-13  (Financial Year 2011-12 )

Relevant Section Nature of Payment (to resident) Threshold Limit Individual HUF (Resident in India) Company Firm/Co-op Sec. Local Authority (Domestic Company)
192 Payment of salary to a resident/non-resident
Normal Income Tax Rates: See Income Tax Slab
193 Interest on securities
10 10
194 Deemed dividends  u/s 2(22)(e)
10 10
194A Interest other than Interest on securities 5000 10 10
194B Lottery or crossword puzzle or card game or other game of any sort. 10000 30 30
194BB Horse races 5000 30 30
194C Contracts/sub-contracts 30000 1 2
194D Insurance Commission 20000 10 10
194EE Payment in respect of deposits under NSS 2500 20 -
194F Payment on account of repurchase of units of MF or UTI 1000 20 10
194G Commission on sale of lottery tickets 1000 10 10
194H Commission or brokerage 5000 10 10
194-I Rent  of Plant and Machinery 180000 2 2

Rent of Land or Building or Furniture and Fitting 180000 10 10
194J Fees for professional or technical services 30000 10 10
194LA Payment of compensation to a resident on acquisition of certain immovable property 100000 10 10

Notes: we.f. 1.10.2009, no TDS is to be deducted on payment to a contractor/sub-contractor, during the course of business of plying, hiring or leasing goods carriages, if the payee furnishes his PAN to the deductor [sec. 194C(6)]
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