TDS Rates for 2009-10 [with TCS Rates]
TDS RATES APPLICABLE FROM 01.10.2009
|
Section Code |
Nature of Payment |
Threshhold Limit to deduct tax |
In case recipient is an Individual / HUF |
If the recipient is other than Individual / HUF |
|
194-A |
Interest other than interest on securities Interest from Banking Company |
Rs.10,000/- p.a. |
10 % |
20 % |
|
194-A |
Interest other than interest on securities Interest other than from Banking Company |
Rs.5,000/- p.a. |
10 % |
20 % |
|
194-C |
Payment to Contractor |
Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year |
1 % |
2 % |
|
194-C |
Payment to Advertising Contractor / Sub Contractor |
Rs.20,000/- Per Single Contract or Rs.50,000/- exceed during the financial year |
1 % |
2 % |
|
194-C |
Payment to transport contractor / sub contractor |
If PAN Quoted |
NIL |
NIL |
|
194-C |
Payment to transport contractor / sub contractor |
If PAN not quoted |
1% *20% from 01.04.2010 |
2% *20% from 01.04.2010 |
|
Section Code |
Nature of Payment |
Threshhold Limit to deduct tax |
In case recipient is an Individual / HUF |
If the recipient is other than Individual / HUF |
|
|
194-H |
Payment of commission or brokerage to resident |
Rs.2,500/- p.a. |
10 % |
10 % |
|
|
194-I |
Payment of Rent |
Rs.1,20,000/- p.a. |
10% *20% from 01.04.2010 |
10% *20% from 01.04.2010 |
|
|
194-I |
Payment of Rent for use of Plant , Machinery or Equipment |
Rs.1,20,000/- p.a. |
2 % *20% from 01.04.2010 |
2 % *20% from 01.04.2010 |
|
|
194-J |
Payment of professional or technical services |
Rs.20,000/- p.a. |
10 % |
10 % |
|
Note :
- Surcharge ,Education Cess and Health Cess is not applicable for TDS.
- w.e.f 01-10-2009, the nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/HUF transporter and 2% for other transporters up to 31-03-2010
- The Rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee (including transporter) w.e.f. 01-04-2010
TCS RATES APPLICABLE FROM 01.10.2009
|
Section Code |
Nature of Payment |
In case recipient is an Individual / HUF / Company |
|
1. |
Scrap |
1 % |
Note : Definition of scrap : ‘Scrap’ has been defined as waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons. It would include only such waste or scrap which arises from manufacture or mechanical working of materials. Further, such waste should not be usable as such. Accordingly, it would not include any waste or scrap –
- which does not arise from manufacture or mechanical working of materials.
- which is usable as such.
Thus the following are not covered –
- the waste or scrap arising from packing materials, newspaper, old machinery scrapped, etc. which cannot be said to arise from manufacture, or
- by-products generated from the manufacturing process as the same could be used as such.
It can inferred that, in case of sale of scrap, the provision would apply to only those sellers who are engaged in the business of manufacturing or mechanical working of materials.
Note :
1.Surcharge ,Education Cess and Health Cess is not applicable for TCS.