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TDS Rates Effective from 01.10.2009

This document outlines the tax deduction at source (TDS) rates applicable from October 1, 2009 in India. It provides the section codes, nature of payments, thresholds for deducting tax, and tax rates for individuals/HUFs versus others. Some key points include: 1) Interest payments over Rs. 10,000 will be taxed at 10% for individuals and over Rs. 5,000 for others. 2) Payments to contractors over Rs. 20,000 or Rs. 50,000 annually will be taxed at 1-2% depending on recipient. 3) If a transport contractor provides their PAN, no tax will be deducted under Rs. 20,000 payments

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Gaurav Malhotra
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11 views2 pages

TDS Rates Effective from 01.10.2009

This document outlines the tax deduction at source (TDS) rates applicable from October 1, 2009 in India. It provides the section codes, nature of payments, thresholds for deducting tax, and tax rates for individuals/HUFs versus others. Some key points include: 1) Interest payments over Rs. 10,000 will be taxed at 10% for individuals and over Rs. 5,000 for others. 2) Payments to contractors over Rs. 20,000 or Rs. 50,000 annually will be taxed at 1-2% depending on recipient. 3) If a transport contractor provides their PAN, no tax will be deducted under Rs. 20,000 payments

Uploaded by

Gaurav Malhotra
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

TDS RATES APPLICABLE FROM 01.10.

2009

Section Nature of Payment Thresholds Limit to In case recipient is If the recipient is


Code deduct tax an Individual / HUF other than
Individual / HUF

194-A Interest other than Rs.10,000/- p.a. 10 % 10 %


interest on
securities
Interest from
Banking Company

194-A Interest other than Rs.5,000/- p.a. 10 % 10 %


interest on
securities
Interest other than
from Banking
Company

194-C Payment to Rs.20,000/- Per 1% 2%


Contractor Single Contract or
Rs.50,000/- exceed
during the financial
year

194-C Payment to Rs.20,000/- Per 1% 2%


Advertising Single Contract or
Contractor / Sub Rs.50,000/- exceed
Contractor during the financial
year

194-C Payment to If PAN Quoted NIL NIL


transport contractor
/ sub contractor

194-C Payment to If PAN not quoted 1% 2%


transport contractor
/ sub contractor *20% from *20% from
01.04.2010 01.04.2010
194-H Payment of Rs.2,500/- p.a. 10 % 10 %
commission or
brokerage to
resident

194-I Payment of Rent Rs.1,20,000/- p.a. 10% 10%

*20% from *20% from


01.04.2010 01.04.2010

194-I Payment of Rent for Rs.1,20,000/- p.a. 2% 2%


use of Plant ,
Machinery or *20% from *20% from
Equipment 01.04.2010 01.04.2010

194-J Payment of Rs.20,000/- p.a. 10 % 10 %


professional or
technical services

Note :

1. Surcharge ,Education Cess and Health Cess is not applicable for TDS.
2. w.e.f 01-10-2009, the nil rate will be applicable if the transporter quotes his PAN. If
PAN is not quoted the rate will be 1% for an individual/HUF transporter and 2% for
other transporters up to 31-03-2010
3. The Rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee
(including transporter) w.e.f. 01-04-2010

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