For ASSESSMENT YEAR 2011 - 12 TDS Rates Chart Rates of TDS for major nature of payments for the

e Financial Year 2010-11 Particulars Criteria for Deduction Section Nature of Payment (payment in excess of) upto 30th June 2010 194 A Interest from a Banking Company Interest other than from a Banking Co. 194 B 194 BB Winning from Lotteries Winning from Horse races Contractors, Pay 194 C to Advt /Sub Contr, Payment to Transporter 194 D 194 H 194 I Insurance Commission Commission or Brokerage Rent other than Plant, Mach. & Equip. Rent of Plant , Machinery & Equipments Professional Charges Rs.5,000/- p.a. Rs.2,500/- p.a. Rs.20,000/- per contract or Rs.50,000/- p.a. Rs.5,000/- p.a. Rs.2500/- p.a. Rs.1,20,000/-p.a. Rs.10,000/- p.a. Rs.5,000/- p.a. Rs.30,000/- per contract or Rs.75,000/- p.a. Rs.20,000/- p.a. Rs.5,000/- p.a. Rs.1,80,000/-p.a. 30 30 30 30 Rs.10,000/- p.a. Criteria for Deduction (payment in excess of) w.e.f. 1st July 2010 Rs.10,000/- p.a. Rates from 1.4.10 to 31.03.2011 If the recipient is a Company, Cooperative Society, Firm 10.00 If recipient is an Individual or HUF

10.00

194 A

Rs.5,000/- p.a.

Rs.5,000/- p.a.

10.00

10.00

2*

1*

10 10 10

10 10 10

194 I 194 J 115 O

Rs.1,20,000/-p.a. Rs.20,000/- p.a.

Rs.1,80,000/-p.a. Rs.30,000/- p.a.

2 10

2 10

Dividend other than deemed dividend

16.60875 (15% + SC + E Cess)

For below mentioned payments - If the recipient is a non-resident non-corporate assessee or non-domestic company a) aggregate payments does not exceed 1 Crore TDS + E Cess b) aggregate payments exceed 1 Crore TDS + SC + E Cess 195(a) 195(b) 195(c) 195(d) Income from foreign exchange assets payable to an Indian citizen Income by way of long-term capital gain referred to in sec. 115E Income by way of Short-term capital gains u/s. 111A Income from other long-term capital gains 20 10 15 20

195(e)

Income by way of interest payable by Government/Indian concern on money borrowed or debt incurred by Government or Indian concern in foreign currency Royalty payable by Government or an Indian concern in pursuance of an agreement made by non-resident with the Government or the Indian concern after March 31, 1976, where such royalty is in consideration for the transfer of all or any rights (including the granting of a license) in respect of copyright in any book on a subject referred to in the first proviso to section 115A(1A) to the Indian concern or in respect of computer software referred to in the second proviso to section 115(1A), to a person resident in India Where the agreement is made before June 1, 1997 Where the agreement is made after May 31, 1997 but before June 1, 2005 Where the agreement is made on or after June 1, 2005 Royalty (not being royalty of the nature referred to in (e) sub para) payable by Government or an Indian concern in pursuance of an agreement made by nonresident with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to matter included in the industrial policy, the agreement is in accordance with that policy

20

195(f)

30 20 10

195(g) Where the agreement is made after March 31, 1961 but before April 1, 1976 Where the agreement is made after March 31, 1976 but before June 1, 1997 Where the agreement is made after May 31, 1997 but before June 1, 1997 Where the agreement is made on or after June 1, 2005 Fee for technical services payable by Government or an Indian concern in pursuance of an agreement made by non-resident with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to matter included in the industrial policy, the agreement is in accordance with the policy Where the agreement is made after February 29, 1964 but before April 1, 1976 Where the agreement is made after March 31, 1976 but before June 1, 1997 Where the agreement is made after May 31, 1997 but before June 1, 2005 Where the agreement is made on or after June 1, 2005 195(i) 196A 196B 196C 196D Any other income Income in respect of Units of Non-residents Income and Long-term Capital gain from units of an Off shore fund Income and Long-term Capital Gain from Foreign Currency Bonds or shares of Indian companies Income of Foreign Institutional Investors for Securities

Company 50 Others 30 30 20 10

195(h)

Company 50 Others 30 30 20 10 Company 40 Others 30 20 10 10 20

Surcharge & E Cess - Applicable for Foreign Companies if payment/credit exceeds Rs.1 crore of such companies * No tax is to be deducted in the case the Contractor is in transport business and PAN is quoted by him

No TDS under Sec 193, 194, 194A, 194EE if the recipient makes a declaration in Form No 15G / 15H under the provisions of Sec 197A

Surcharge and Cess is not applicable on tds from 01-04-2009 on any payment made to resident i.e. SC is
applicable only when the recipient is a foreign company & payment exceeds 1 Crore. E Cess is applicable in the cases of TDS from payment of salary to a resident or non-resident and in case of any other sum to a non-resident or a foreign company. If pan not provided by the deductee then rate as per above table or 20% which ever is higher *Interest of late deposit of TDS is proposed to be increased from 12% p.a. to 18% p.a. effective from 1st July 2010. Notes: Amendment to Sec 201: Rate of Interest (per month or part) 1% 1.5% Period for which interest is payable From the date on which tax was deductible to the date on which tax is actually deducted From the date on which tax was actually deducted to the date on which tax is actually paid

1) Due date of payments is as under: a) Credit/Paid in the month of March 30th April b) Any other case On or before 7 days from the end of the month in which deduction is made.
c) TDS certificate to be issued within 1 month from the end of the month in which payment / credit was made Income Tax Challans: Purpose Payment of INCOME-TAX both for companies and non company assessee Deposit of TDS both by companies and non company deductee Securities transaction tax / Wealth tax / Gift tax / Expenditure / other tax / Estate duty / Interest tax / Hotel receipts tax Banking Cash Transaction Tax / Fringe Benefits Tax Income Tax Rates: Male For Income Between 0 to 1,60,000 For Income Between 1,60,001 to 5,00,000 For Income Between 5,00,001 to 8,00,000 For Income above 8,00,001 Surcharge Education Cess Domestic Company Foreign Company Surcharge applicable if exceeds 1 Crore, Domestic 7.5%, Foreign Company 2.5% Female For Income Between 0 to 1,90,000 For Income Between 1,90,001 to 5,00,000 For Income Between 5,00,001 to 8,00,000 For Income above 8,00,001 Senior Citizen For Income Between 0 to 2,40,000 For Income Between 2,40,001 to 5,00,000 For Income Between 5,00,001 to 8,00,000 For Income above 8,00,001 Tax (%) 0 10 20 30 0 3 30 40 Challan No. TNS 280 ITNS 281 ITNS 282 ITNS 283

Capital gains: Covered by STT Asset US-64 Units equity oriented Units others Equity shares covered u/s 10(36) listed Long term 0 0 NA 0 0 NA NA NA NA NA NA Short term 0 15 NA 15 15 NA NA NA NA NA NA Not covered by STT Long term Without indexation 0 10 10 0 10 NA 10 NA 10 20 10 With indexation 0 20 20 0 20 20 20 20 NA NA 20 Short term 0 Normal Normal Normal Normal Normal Normal Normal Normal Normal Normal

Equity shares listed others Equity shares unlisted Preference shares listed Preference shares unlisted Debentures listed Debentures unlisted govt. securities

Advance Tax: to be paid if tax payable is 10000 or more Corporate Assessee On or before Jun 15 On or before Sep 15 On or before Dec 15 On or before Mar 15 MAT: If book profit of a company exceeds 1 Crore, MAT cannot exceed the following (18 Lakhs + Book Profit 1 Crore) + E Cess Rate of MAT is increase to 18% of Book Profits - Tax credit shall be allowed to be carried forward and set off up to 10 Assessment years immediately succeeding the AY in which tax credit becomes allowable. If Book Profit does not exceed 1 Crore IT Domestic Company Foreign Company 18 18 SC E Cess 0.54 0.54 Total 18.54 18.54 If Book Profit exceeds 1 Crore IT 18 18 SC 1.35 0.4 5 E Cess 0.5805 0.5535 Total 19.9305 19.0035 Up to 15% Up to 45% Up to 75% Up to 100% Non-corporate Assessee Up to 30% Up to 60% Up to 100%

Forms to be used for filing Returns: Form 24 - Annual return of "Salaries" under Section 206 Form 26 - Annual return of deduction of tax under section 206 in respect of all payments other than "Salaries" Form 27 - Quarterly Statement of deduction of tax from interest, dividend or any other sum payable to certain persons Form 27E - Annual return of collection of tax under section 206C of Income Tax Act, 1961

Form 24Q - Quarterly statement to be filed within 15 days from the end of the Quarter for tax deducted at source from "Salaries" Form 26Q - Quarterly statement to be filed within 15 days from the end of the Quarter of tax deducted at source in respect of all payments other than "Salaries" Form 27Q - Quarterly statement to be filed within 14 Days from the end of the Quarter for deduction of tax from interest, dividend or any other sum payable to non-residents Form 27EQ - Quarterly statement of collection of tax at source Examples:

1) If TDS is Deducted for the Month of January 2011 then it has to be deposited on or before 7th February 2011 2) If TDS is Deducted for the Month of March 2011 (including TDS on 31st March2011) then it has to be
deposited on or before 30th April 2011. 3) For the TDS on payments other than salary with respect to Quarter I i.e. 1.04.2010 to 30.06.2010:-

4) The Quarterly Statement (Form 26Q/27Q) should be filed on or before 15th July2010 and the
TDS Certificate (Form 16A) should be issued on or before 30th July2010. Sec Nature of Payment Time of Deduction Time of Deposit of TDS Form and Date of Quarterly Return Form No. 24Q, Within 15 Days from the close of Quarter and May 15 for the Quarter ending Mar 31 Time limit for issue of TDS certificate Form 16 to be issued by May 31 following the end of relevant financial year. Form 16A on Quarterly basis within 15 days from the due date of furnishing quarterly TDS statement (Form 26Q/27Q) do

192

Salary

At the time of Payment

Within 7 Days from end of month

193

Interest on Securities

Time of Payment or Credit ,whichever is earlier

do

Form No. 26Q, Within 15 Days from the close of Quarter and May 15 for the Quarter ending Mar 31

194A

Interest other than Interest on Securities Winning from Lotteries or Crossword Puzzles Winning from Horse Races Payment to Contractor or Sub Contractor Insurance Commission Non Resident Sportsmen

Time of Payment or Credit ,whichever is earlier At the time of Payment

do

do

194B

do

do

do

194B B

Do Time of Payment or Credit ,whichever is earlier Do Do

do

do

do

194C

do

do

do

194D 194E

do do

do Form No.27 within 14 days from the end of

do do

or sports associations 194E E National Saving Scheme Equity Linked Saving Scheme At the time of Payment At the time of Payment do

Quarter Form 26, 30June of relevant AY do

194F

do With in 7 Days from end of month of deduction. But if tax is deducted on behalf of Govt. it is to be deposited on the same day without challan. With in 7 days from end of month of deduction. do

do

do

194G

Commission on sale of Lottery Tickets

Time of Payment or Credit ,whichever is earlier

do

do

194H 194 I

Commission Brokerage Rent Fees for Professional and Technical Services Payment to Non Resident

Do Do

do do

do do

194 J

Do

do

do

do

195

Do

do

No Annual Return but statement of TDS to be filed with in 14 days from the end of Quarter

do

Mode of Payment of TDS: Following persons shall be liable to pay TDS electronically i.e. internet banking or debit/credit cards: i) A company ii) A person (other than a company) to whom provisions of section 44AB are applicable