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TDS Rate Chart For FY 2015-16 & AY 2016-17

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TDS Rate Chart For FY 2015-16 & AY 2016-17.  TDS Rates For F.Y 2015-16 And AY 2016-17. TDS Chart for AY 2015-16. Download TDS Rate Chart for AY 2016-17. Here We are providing Latest TDS Rates for AY 2016-17. Scroll Down Below and check all Latest TDS Rate chart issued by Income tax Department. Download latest TDS Rate Chart. TDS/TCS Rates Chart for FY 2015-16 / AY 2016-17 . Download TAX Deducted at Source Rates Chart in pdf format. All TDS Rates are available at one place. Recently we are providing Various due dates for Indian taxes and CA Final Revision Test Paper in Hindi For May 2015 Exams. You can also Download Latest Income Tax Slab Rates AY 2016-17 & All Years. Now check more details about “TDS Rate Chart For FY 2015-16 & AY 2016-17” from below….

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RATES FOR TAX DEDUCTION AT SOURCE [AY 2015-16 & AY 2016-17]

Download TDS Chart for AY 2016-17 or FY 2015-16

Download TDS Chart for AY 2017-18 or FY 2016-17

TDS Rate Chart Amended by Finance bill 2016 (Budget 2016)

Please Note – These Amendments are applicable from 01-06-2016

SECTION Nature of Transaction INCREASE IN EXEMPTION LIMIT Amendment in TDS Rates
Existing Current w.e.f. 01.06.2016 Existing Current w.e.f. 01.06.2016
192A Payment of Accumulated PF to employee 30000 50000 10% 10%
194BB Winning from Horse Race 5000 10000 30% 30%
194C Aggregate Contractual Payment 75000 100000 1% /2% 1% /2%
194D Insurance Commission 20000 15000 10% 10%
194DA Payment in respect of Life Insurance Policy 100000 100000 2% 1%
194G Commission on Lottery Tickets 1000 15000 10% 5%
194H Brokerage payment 5000 15000 10% 5%
194LA Payment of Compensation on acqusition of immoveable property 200000 250000 10% 10%
194LBC Income from investment in Securitisation Trust 0 0 0 25%/30%
206C(1)(Viii) Motor vehicle value exceeding 10,00,000 0 1000000 0 1%
206C(1D) Sale in cash of any goods (other than bullion and jewellery),
or providing of any services (other than payments on
which tax is deducted at source under Chapter XVII-B)
exceeding two lakh rupees.(Rs.2 Lakh). 0 200000 0 1%

TDS Rate Chart For FY 2015-16 & AY 2016-17.

Tax is deductible at source at the rates given in table (infra). If PAN of the deductee is not intimated to the deductor, tax will be deducted at source by virtue of section 206AA either at the rate given in the table or at the rate of 20 per cent, whichever is higher. Further, under section 94A(5), if payment or credit is made or given to a deductee who is located in a notified jurisdictional area, tax is deductible at the rate given in the table or at the rate of 30 per cent, whichever is higher. TDS rates for the financial year 2015-16 are as follows

Section Nature of Income When to Deduct Rate of TDS
192 Salary Monthly- at the time of payment where estimated yearly net taxable salary exceeds tax free limit As Per Income Tax Slab
192A Payment of accumulated balance of PF, 1952 to employees when the amount of payment or aggregate amount of payment exceeds Rs. 50,000/ (From 01-06-2016) 10%
193* Interest on securities At the time of credit or payment, whichever is earlier, when the amount exceeds Rs 5000 10%
194 Dividends Before making payment to shareholder, other than dividend declared U/s. 115-0, when amount exceeds Rs. 2,500/- 20%
194A** Interest other than interest on securites At the time of credit or payment, whichever is earlier, when the amount exceeds Rs. 5,000/-. However, limit is Rs. 10,000/- in case of interest credited by banks including co‑operative banks to its members. 10%
194B Winning from lottery, crossword puzzles, card games, tv game show At the time of  payment when it exceeds Rs. 5,000/- 30%
194BB Winning from horse races At the time of  payment when it exceeds Rs. 10,000/- (From 01-06-2016) 30%
194C*** Payment to contractor / subcontractor At the time of credit or payment, whichever is earlier, when the amount of a  particular contract exceeds Rs. 30,000/- or the total amount of contract during the whole year exceeds Rs. 1,00,000/– (From 01-06-2016) 1% when payee is individual/ HUF, 2% when payee is other than Individual/ HUF
194D Insurance Commission At the time of credit or payment, whichever is earlier when the amount exceeds Rs. 15,000/- (From 01-06-2016) 5%
194DA Payment under life insurace policy (including bonus) At the time of payment when the amount or the total amount during the whole year exceeds Rs. 1 ,00,000/- 1%

194E

NR Sportsmen or Sport Asso./lnsti.

Any Amount

20%

194EE

Deposit from NSC

Rs. 2,500/-

10%

194F

Re purchase of units of MF or UTI [unit u/s 80CCB(2)]

Any Amount

20%

194G

Commission On sale of lottery tickets

Rs. 15,000/-

 5%
194H Commission/ Brokerage At the time of credit or payment whichever is earlier when the amount exceeds Rs. 15000/- 5%
194I Rent At the time of credit or payment, whichever is earlier, when the amount exceeds Rs. 1 ,80,000/- 10% – when rent is for land, building , furniture 2%- when rent is for plan, machinery, equipment
194J Fees for technical services,Fees for professional services,Fees for non carrying out any activity related to businessFor not sharing any know how, patent, copyright etc. At the time of credit or payment, whichever is earlier, when the amount exceeds Rs. 30,000/ 10%
194IA

Sale of immovable property other than agri. Land

At the time of credit or payment, whichever is earlier, when the land is situated in specified area when amount exceeds Rs. 50 lacs 1%

194LA

Payment on Compulsory acquisition of immovable property

Rs 2,50,000 10%
194LB Payment of interest on infrastructure debt fund to non resident or foreign company Payment of interest on infrastructure debt fund to non resident or foreign company 5%#
194LBA Payment of distributed income to resident unit holder by business trust At the time of credit or payment whichever is earlier 10%
194LBA Payment of distributed income to non resident unit holder by business trust Payment or Credit 5%##
194LBB Payments of distribution income to unit holders of investment fund ( wef 1/6/15) At the time of credit or payment whichever is earlier 10%
194LC Payment of interest by indian company/ business trust for money borrowed in foreign currency under loan agreement or issuance of bonds At the time of credit or payment whichever is earlier 5%###
194LD Payment of interest on rupee denominated bond of indian company/ government securities to foreign institutional investor or qualified foreign investor At the time of credit or payment whichever is earlier 5%
206C Collection on Sale of bullion and Jewellery At time of sale, if sale consideration is received in cash in excess of Rs. 2 Lacs 1%

Special Note – Highlighted section, Rates & Limit is an Amendment of Budget 2016‐17 And applicable W.E.F. 01/06/2016.

Notes

* Interest on securities covers interest on the following

  • Any debentures of securities issued by local authority, central, state or provincial act.
  • Debentures issued by companies-listed , unlisted debentures issued by company in which public are substantially interested.
  • Securities of central or state government.

** Interest other than interest on securites

  • In case of interest payment on time deposits  by co-operative banks to its members the TDS Provision is applicable from 1-6-2015

*** Payment to contractor / subcontractor

  • A) From 01.06.2015 – If the payment is made to contractor/sub contractor in transport business, no TDS shall be deducted at source in the course of payment for plying, hiring or leasing goods carriages if the contractor provides PAN Number and such contractor owns ten or less goods carriage at any time during the previous year and furnishes a declaration to that effect. (WEF 01.06.2015)
  • Up to 31.05.2015– No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages on furnishing of his Permanent Account Number, to the person paying or crediting such sum

# 194LB

  • Surcharge, education cess and higher education cess shall be added to the TDS rate while paying to non resident

When payment is made to person who does not furnish his PAN, TDS shall be deducted at the rate of higher of the following

  •  The rate prescribed in the act
  • The rate prescribed in the Finance act
  • 20%

Other Important Notes :

1. Under section 192 tax is deductible from salary. The payer shall calculate salary taxable in the hands of recipient. The amount so determined is subject to tax deduction under section 192. Undersection 195, tax is deductible only if income is taxable in the hands of recipient in India. In any other case, gross payment is subject to tax deduction.

2. In Category B, tax is deductible at the above rates or the rates specified in ADT agreements entered into by the Central Government under section 90 (whichever is lower) [section 2(37A)(iii)].

3. Tax is not deductible under section 193, 194, 194A, or 194EE if the recipient makes a declaration in Form No. 15G/15H under the provisions of section 197A.

4. Under section 197 the recipient can apply the Assessing Officer in Form No. 13 to get a certificate of lower/no tax deduction. This benefit is, however, not available if tax is deductible undersection 194B, 194BB, 194E, 194EE, 194F, 194-IA, 194LB, 194LC, 196B, 196C or 196D.

5. 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 licence) 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.

6. Not being royalty of the nature referred to above, 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 that policy.

7. Fees 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 that policy.

If you have any query regarding”TDS Rate Chart For FY 2015-16 & AY 2016-17” then please post your query via below comment box…..

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About Raju Choudhary

Article by Raju Choudhary Raju has written 537 articles. If you like This post, you can follow CAknowledge on Twitter. Subscribe to CAknowledge feed via RSS or EMAIL to receive instant updates.

8 comments

  1. Dear Sir,

    Directors Remuneration can we take under 194j

  2. dear raju chaudhary sir,

    sir,

    i am an accountant of the educational institute and institute run under trust.

    i would like to know

    if I pay the bill of Rs. 45000/- by cheque, what about tds on this

    and

    if the same amount is paid in cash what about tds ?

    and if i have no working capital to meet the expenses of the business

    then what amouint should i borrow from others to avoid tds

    amount in cash —————-

    amount by cheque ————-

    can i take donations ? if yes, what is the limit

    • Hi rajendra shah

      Payments exceeding Rs. 20,000/- cannot be made in cash. If the same are made, the expense will be disqualified.
      TDS has to be deducted if the same falls under the relevant sections concerning TDS. It makes no difference as regards to TDS whether the payments are made in cash or through bank.
      If the required TDS is not deducted, 30% of the expense will be disallowed in the current year.
      To the next query, borrowing working capital has nothing to do with TDS. You can borrow any amount but TDS provisions will still be applicable.
      There is no limit on donations but it is better to get donations with the name and address of the donor. Anonymous donations should be as few as possible.

  3. Dipak D Diwakar

    Nice chart one query is that u/s 194c if the one time payment 30000 or whole year amount exceed 75000 that time no need to deduct the tax wef 01062015 if receiving the declaration

  4. ADV PRAMOD KUMAR RAGHAV

    GOOD

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