TDS / TCS RATES FOR F.Y.2016-17
|
Section |
Nature of Payment |
Threshold Limit of Payment |
01-04-2016 to 31-05-2016 |
01-06-2016 onwards |
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|
192 |
Income from Salary |
Senior Citizen (60 Years) |
Rs. 3,00,000 |
Average rate of Tax +Education Cess (Surcharge if Salary > 1 Cr) |
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|
Super Senior Citizen (80 Years) |
Rs. 5,00,000 |
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|
Others |
Rs. 2,50,000 |
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|
192A |
Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%) |
|
10% |
10% |
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|
193 |
Interest on Securities |
Rs. 5,000 |
10% |
10% |
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|
194A |
Interest from a Banking Company |
Rs. 10,000 per annum |
10% |
10% |
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|
194A |
Interest other than from a Banking Company |
Rs. 5,000 per annum |
10% |
10% |
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|
194B |
Winning from Lotteries & Cross Word Puzzles |
Rs. 10,000 per annum |
30% |
30% |
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|
194BB |
Winning from Horse Races |
|
30% |
30% |
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|
194C |
Transporters with valid PAN & to whom 44AE applicable |
- |
0% |
0% |
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|
194C |
Payment to Contractors; Sub-contractor; Advertising Contractors (including other transporters) |
|
Individual/HUF 1% Others 2% |
Individual/HUF 1% Others 2% |
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|
194D |
Insurance Commision |
|
10% |
5% |
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|
194DA |
Payment under life insurance policy (including Bonus) |
Rs.1,00,000 per annum |
2% |
1% |
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|
194E |
Non-resident Sportman or Sports Association |
- |
20% |
20% |
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|
194EE |
Out of deposit under NSS |
Rs.2,500 |
|
|
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|
194G |
Commission on Sale of Lottery Tickets |
|
10% |
5% |
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|
194H |
Commission/Brokerage |
|
10% |
5% |
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|
194-I |
Rent on Plant / Machinery |
Rs. 1,80,000 per annum |
2% |
2% |
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|
194-I |
Land or building or furniture or fitting |
Rs. 1,80,000 per annum |
10% |
10% |
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|
194-IA |
Payment or transfer of Non -agricultural immovable property |
Rs. 50,00,000 & above |
1% |
1% |
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|
194J |
Fees for Professional / Technical Services |
Rs. 30,000 per annum |
10% |
10% |
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|
194LA |
Compulsory Acquisition of immovable Property |
|
10% |
10% |
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|
TCS Rates |
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|
206C |
Scrap |
- |
1.00% |
1.00% |
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|
206C |
Tendu Leaves |
- |
5.00% |
5.00% |
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|
206C |
Timber obtained under a forest lease or other mode |
- |
2.50% |
2.50% |
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|
206C |
Any other forest produce not being a Timber or tendu leave |
- |
2.50% |
2.50% |
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|
206C |
Alcoholic Liquor for Human Consumption |
- |
1.00% |
1.00% |
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|
206C |
Packing lot, toll plaza, mining & quarrying |
- |
2.00% |
2.00% |
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|
206C |
Where Amount Received Partially or Wholly in Cash:- Purchase of Bullion Jewellery Any other goods or service (where TDS is not deducted) |
Exceeding Rs. 2 Lacs per transaction Exceeding Rs. 5 Lacs per transaction Exceeding Rs. 2 Lacs per transaction |
1.00% 1.00% 0.00% |
1.00% 1.00% 1.00% |
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|
206C |
Purchase of coal lignite, Iron ore by a trader |
- |
1.00% |
1.00% |
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|
206C |
Sale Value of Motor vehicle whether in cash, cheque or in any other mode of receipt |
Exceeding Rs. 10 Lakhs per transaction |
0.00% |
1.00% |
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Notes
1. Surcharges & Education Cess
|
Type of Payment |
Surcharge |
Rate |
Education Cess (3.00%) |
|
Salary (Resident & Non- resident) |
Upto 1cr |
Nil |
Yes |
|
> 1 Crore |
10% |
||
|
Other Payments to Residents |
No |
Nil |
No |
|
Other Payments to Non-Residents |
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|
Payment to Non-Residents (other than Cos) |
Upto 1cr |
Nil |
Yes |
|
> 1 Crore |
10% |
||
|
Payments to Foreign Co. |
Upto 1cr |
Nil |
Yes |
|
> 1 Crore |
2% |
||
|
> 10 Crores |
5% |
INTEREST ON DELAY IN DEPOSIT OF TAX AFTER DEDUCTION
|
Stage of deduction |
Rate per month or part of the month |
|
From date when deductible till actual deduction |
1.00% |
|
From date of deduction till payment |
1.50% |
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