Tax deducted at source For the Financial year

Transcription

1 Tax deducted at source For the Financial year A summary list of tax deductible from a resident, a nonresident and other persons CA K. Balachandran FCA, Coimbatore

2 TDS summary for the AY (FY ) Payment to a Resident (No surcharge and cess) SECTION DETAILS OF PAYMENT/INCOME PAID BY IF EXCEEDS Rs. RATE OF TDS 192 Salary ments Employer As applicable Rate in force Accumulated balance in EPF, due to an Excess of 192A employee (only on amount includible in total The Trustee of EPF exempted income) amount 193 Interest on Securities Any person A Deemed Dividends on Equity and Preference shares Interest other than on Securities Interest on recurring deposits also covered w.e.f If paid by Govts. The company If Banks If Co-operative Society Any other person (not being Individual and HUF) 194B Winnings from lottery or crossword puzzle Any person 30% 194BB Winnings from horse race A Book maker or license holder 30% 194C Payments to contractors for single bill or 7 194D Insurance commission or otherwise DA 194G Life Insurance Policy ments other than Insurance company u/s 10(10D) Payment of deposits under National Savings Scheme etc., u/s 80CCA(2)(a) Payments of repurchase of units by MF or Commission etc., on the sale of lottery tickets 194H Commission or brokerage Any person (not being individual or HUF) 194-I Rent 1% to Individual if S 44AB applies 2% to any other person 5% - if paid to other than company - if paid to a domestic company 2% upto % from % upto from % upto % from Any person (not being individual or HUF) upto % from % for Machinery or Plant or equipments for land or building or furniture or fittings 194-IA Transfer of Immovable Properties (other 1% than compulsory acquisition and Transferee agricultural land) 194J Fees for professional or technical services, Any person (not being royalty or remuneration to a director individual or HUF) 194LA Compensation on acquisition of certain immovable properties 194LBA Income from units of Business Trust 194LBB Income from units of investment fund w.e.f LBC(1) Payment from investment in a securitization 25% if paid to individual /HUF trust w.e.f % if paid to other persons Page 1

3 TDS summary for the AY (FY ) Payment to a Non - Resident SECTION DETAILS OF PAYMENT/INCOME PAID BY Rate of Tax Non-Residents 192 Salary ments 192A 194B 194BB 194E 194G (including surcharge and cess) Rate of Tax Foreign Company Rate in force ---- Accumulated balance in EPF, due to an employee (on excess of exempted amount) The Trustee of EPF ---- Winnings from lottery or crossword puzzle (on amount exceeds Rs. ) Winnings from horse race (on amount exceeds Rs. ) Payment to Non-resident sportsmen, Nonresident Sports Association or an entertainer (not a citizen) Payment of deposits under National Savings Scheme etc., u/s 80CCA(2)(a) Payments of repurchase of units by MF or Commission etc., on the sale of lottery tickets Any person A Book maker or license holder 194LB Interest from Infrastructure debt fund 194LBA Income from units of Business Trust (S 115UA and S 10(23FC) Income from units of Business Trust (S 115UA and S 10(23FCA) % above Rs. 1 Cr to 10Cr % exceeds Rs. 10 Cr % above Rs. 1 Cr to 10Cr % exceeds Rs. 10 Cr % above Rs. 1 Cr to 10Cr 21.63% exceeds Rs. 10 Cr % if exceeds Rs 10 Cr % if exceeds Rs 1 Cr Page 2

4 194LBB 194LBC(2) 194LC 194LD 195 i Income from units of investment fund As in S 115UB w.e.f Payment from investment in a securitization trust (Explanation (d) of S 115TCA) Interest from Indian company or a business trust Interest on bonds and Govt Securities Interest (NOT u/s 194LB, 194LC) or any sum (NOT salary) Income of foreign exchange assets Long term capital gain u/s 115E/112(1)(c)(iii) 20.06% Rs. 1 Cr or less 10.3% if Rs. 1 Cr or less % if exceeds Rs. 10 Cr ii Royalty on Copy right in books to the Indian concern (s 115A(1A) Royalty for computer software to a person resident in India (s 115(1A) Fees for technical services if agreement made on or after Indian Govt/Indian concern % if exceeds Rs 10 Cr Other royalty if agreement made on or after iii iv v Other royalty if agreement made before Indian Govt/Indian Fees for technical services if agreement concern made before Short term capital gain u/s 111A Other Long term capital gain NOT covered u/s 10(33), 10(36) and 10(38) Interest on debt in foreign currency NOT u/s 194LB/194LC Indian Govt/Indian concern 15.45% Rs. 1 Cr or less % if exceeds Rs. 1 Cr % if exceeds Rs 1 Cr 20.06% Rs. 1 Cr or less 51.5% Rs. 1 Cr or less 52.53% above Rs. 1 Cr to 10Cr % if exceeds Rs 10 Cr 15.45% Rs. 1 Cr or less % above Rs. 1 Cr to 10Cr % if exceeds Rs 10 Cr % above Rs. 1 Cr to 10Cr % if exceeds Rs 1 Cr vi Any other income 41.20% Rs. 1 Cr or less 43.26% if exceeds Rs 1 Cr Page 3

5 Payment to HUF (No surcharge and cess) SECTION DETAILS OF PAYMENT/INCOME PAID BY PAID TO RATE OF TDS 1% HUF - if S 44AB applies 194C Payments to contractors HUF Payment of deposits under National Savings Scheme etc., u/s 80CCA(2)(a) HUF 20% Payments of repurchase of units by MF or HUF 20% Page 4