Rate of Tax Deduction at Source (TDS Chart) with Threshold limit for the Financial Year 2014-15 - Income Tax - Ready Reckoner - Income Tax

Rates of TDS for the Financial Year 2014-2015 Section Particulars TDS Threshold Limit Surcharge and Education Cess 192 Salary Normal Slab Rate As per normal computation of income 1. Surcharge: No Surcharge on TDS in case of payment is made to Resident or Domestic Company. 10% Surcharge on TDS in case of payment is made to Non Resident other than Foreign Company exceeds Rs. 1 Crore. 2% Surcharge on TDS if the recipient is a foreign company and amount exceeds Rs. 1 Crore to Rs. 10 Crore. In case of more than Rs. 10 crore, 5% surcharge is applicable. 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% Rs. 5,000 [Rs. 2,500 up to 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 Rs. 10,000 in case of 8% Savings (Taxable) Bonds, 2003 Rs. 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 on other Securities 10% 194 Dividend (Deemed) 10% Rs. 2,500 where shareholder is an individual 194 Dividend (Other) Nil 194A Interest other than interest on security 10% (a) Rs. 10,000/- where the payer is a banking company (b) Rs. 10,000/- where the payer is a co-operative society engaged in carrying on the business of banking; (c) Rs. 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) Rs. 5,000/- in any other case 194B Winning from Lotteries 30% Rs. 10,000 194BB Winning for horse race 30% Rs. 5,000 194C Payment to Individuals and HUF 1% Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Financial Year No TDS on GTA if PAN number of the GTA is available 194C Payment to other contractors 2% Rs. 30,000 per single contract or Rs. 75,000 in aggregate during the Financial Year No TDS on GTA if PAN number of the GTA is available 194D Insurance Commission 10% Rs. 20,000 194DA Payment of Life Insurance Policy 2% Rs. 1,00,000 194E Payment to a non-resident foreign citizen sportsman / entertainer or non -resident sports association 20% - 194EE Payment for National Saving Scheme, 1987 20% Rs. 2500 194F Payment for repurchase of units 20% - 194G Commission, remuneration or prize on sale of lottery ticket 10% Rs. 1,000 194H Commission or Brokerage 10% Rs. 5,000 194I Rent on land, building or furniture 10% Rs. 1,80,000 194I Rent on plant, machinery or equipment 2% Rs. 1,80,000 194IA Payment / credit of consideration to a resident transferor for transfer of immovable property (other than rural agricultural land) [w.e.f. 1.6.2013] 1% Rs. 50,00,000 194J Fees for Professional / Technical services / royalty 10% Rs. 30,000 for each services 194J Any remuneration, Fees or Commission to a director w.e.f. 1.7.2012 10% - 194LA Compensation to a resident on acquisition of certain immovable property 10% Rs. 2,00,000 [Rs. 1,00,000 up to 30.6.2012] 194LB Interest payable to non-resident by an infrastructure debt fund [Rate+ SC+EC+SHEC] 5% - 194LBA Certain Income by a business trust to its unit holders - Resident 10% - 194LBA Certain Income by a business trust to its unit holders - Non resident 5% - 194LC Interest payable to a non-resident / foreign company by an Indian specified company or a Business Trust [Rate+ SC+EC+SHEC] 5% [Interest payable on money borrowed in foreign currency or issue of any long term bond including long-term infrastructure bond, between 1.7.2012 to 30.6.2017, ] 194LD Interest on Bonds / Government Securities payable to a foreign institution investor or a qualified foreign investor [Rate+ SC+EC+SHEC] 5% [Interest payable after 31.5.2013 but before 1.6.2015] 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 . 3. In case PAN of the deductee is not available than TDS rate will be 20%. 4. No TDS on Service Tax - As per Circular 01/2014 dated 13-1-2014 , TDS is not applicable on service tax part if service tax part shown separately.