Rate of Tax Deduction at Source (TDS Chart) with Threshold Limit for the Financial Year 2012-13 - Income Tax - Ready Reckoner - Income Tax

Rates of TDS for the Financial Year 2012-2013 Section Particulars TDS Threshold Limit Surcharge and Education Cess 192 Salary Normal Rate As per normal computation of income 1. Surcharge: No Surcharge on TDS in case of payment is made to Resident or Domestic Company No Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company 2.5% Surcharge on TDS if the recipient is a foreign company and amount exceeds ₹ 1 Crore. 2. Education Cess No EC or SHEC on TDS in case of payment is made to Resident or Domestic Company [Other than Salary] 3% EC and SHEC (2% + 1%) on TDS in case of Salary 3% EC and SHEC (2% + 1%) on TDS in case of payment is made to Non Resident 193 Interest on Specified Securities 10% ₹ 5,000 [Rs. 2,500 upto 30-6-2012] in case of Listed Debentures payable to resident individual or a Hindu undivided family, by a company in which public are substantially interested ₹ 10,000 in case of 8% Savings (Taxable) Bonds, 2003, ₹ 10,000 in case of 6 per cent Gold Bonds, 1977, or 7 per cent Gold Bonds, 1980, where the Bonds are held by an individual not being a non-resident, and the holder thereof makes a declaration in writing before the person responsible for paying the interest that the total nominal value of the 6 per cent Gold Bonds, 1977, or, as the case may be, the 7 per cent Gold Bonds, 1980 No TDS on certain specified securities - see section 193 193 Interest other Securities 10% 194 Dividend (Deemed) 10% ₹ 2,500 where shareholder is an individual 194 Dividend (Other) Nil 194A Interest other than interest on security 10% (a) ₹ 10,000/- where the payer is a banking company (b) ₹ 10,000/- where the payer is a co-operative society engaged in carrying on the business of banking; (c) ₹ 10,000/- on any deposit with post office under any scheme framed by the Central Government and notified by it in this behalf; and (d) ₹ 5,000/- in any other case 194B Winning from Lotteries 30% ₹ 10,000 194BB Winning for horse race 30% ₹ 5,000 194C Payment to Individuals and HUF 1% ₹ 30,000 per single contract or ₹ 75,000 in aggregate during the Finance Year No TDS on GTA if PAN number of the GTA is available 194C Payment to other contractors 2% ₹ 30,000 per single contract or ₹ 75,000 in aggregate during the Finance Year No TDS on GTA if PAN number of the GTA is available 194D Insurance Commission 10% ₹ 20,000 194E Payment to a non-resident foreign citizen sportsman or non resident sports association [upto 30.6.2012] 10% - Payment to a non-resident foreign citizen sportsman / entertainer or non resident sports association [w.e.f. 1.7.2012] 20% - 194EE Payment for National Saving Scheme, 1987 20% ₹ 2500 194F Payment for repurchase of units 20% - 194G Commission on sale of lottery ticket 10% ₹ 1,000 194H Commission or Brokerage 10% ₹ 5,000 194I Rent on land, building or furniture 10% ₹ 1,80,000 194I Rent on plant, machinery or equipment 2% ₹ 1,80,000 194J Fees for Professional/Technical services 10% ₹ 30,000 Remuneration to a director w.e.f. 1.7.2012 10% 194LA Compensation to a resident on acquisition of certain immovable property 10% ₹ 2,00,000 [Rs. 1,00,000 upto 30.6.2012] 1. Self Declaration - Tax (TDS) is not deductible under section 193 , 194 , 194A , 194EE or 194K if the recipient makes a declaration in Form 15G / 15H under the provisions of section 197A . But, the person seeking to furnish Form 15G / 15H must have PAN number on or after 1.4.2010 2. Certificate from AO - Under Section 197 - A person can apply to AO and seek a certificate in Form 13 for no deduction of TDS or deduction of TDS at lower rates under sections192 , 193 , 194 , 194A , 194C , 194D , 194G , 194H [, 194-I , 194J , 194K , 194LA and 195 . 2. In case PAN of the deductee is not available than TDS rate will be 20% ===================================