TDS Rate Chart: TDS means “Tax Deducted at Source“. Here we provide TDS Rate Chart for AY 2017-18 OR FY 2016-17. TDS is one of the modes of collection of taxes, by which a certain percentage of amounts is deducted by a person at the time of making / crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government Account.
TDS is calculated and levied on the basis of a threshold limit specified by income tax department, which is the maximum level of income after which TDS will be deducted from your future income/payments.
TDS is deducted as per the Indian Income Tax Act, 1961. TDS is controlled by the Central Board for Direct Taxes and it is a part of the Indian Revenue Service Department.
TDS Rate Chart For FY 2016-17 AY 2017-18. Here we provide all past years TDS Rate Chart like – TDS Rates For F.Y 2015-16 And AY 2016-17, TDS Chart for AY 2018-19, Download TDS Rate Chart for AY 2017-18 etc…. Here We are providing Latest TDS Rates for AY 2017-18. 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 2016-17 / AY 2017-18 . 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 . You can also Download Latest Income Tax Slab Rates AY 2017-18 & All Years. Now check more details about “TDS Rate Chart For FY 2016-17 AY 2017-18” from below….
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- TDS TCS Rates Chart for AY 2017-18 FY 2016-17
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- Download TDS Chart for AY 2016-17 or FY 2015-16
TDS RATE CHART POPULAR SECTIONS FY 2016-17 AY 2017-18
|Section||Nature of Transaction||Threshold Limit||TDS Rates|
|192||Salaries||As per Slab Rate||Slab Rates if Not PAN TDS 30%|
|192A||Payment of Accumulated PF to employee||Rs. 30000 (Old)/Rs. 50 000 (New)||10%|
|193||Interest on Securities||Rs. 10,000||10%|
|193||Interest in Debentures||Rs 5,000||10%|
|194||Dividend other than dividends u/s 115-O||Rs 2500||10%|
|194A||Interest other than interest on securities||Rs 5000||10%|
|194A||Banks (Time Deposits/Recurring Deposit/Deposit in Co-op Banks)||Rs. 10,000||10%|
|194B||Winning from lottery or crossword puzzle||Rs. 10,000||30%|
|194BB||Winning from Horse Race||Rs. 10,000||30%|
|194C||Payment to Contractor (Single Transaction)||30000/-||1% /2%|
|194C||Payment to Contractor (Aggregate amount in Financial Year)||100000/-||1% /2%|
|194DA||Payment in respect of Life Insurance Policy||1,00,000||1%|
|194E||Payments to non-resident sportsmen or sports associations||N/A||20%|
|194EE||Payments in respect of deposits under National Savings Scheme (New rate applicable from 01.06.2016)||2500||10%|
|194F||194F–Payments on account of repurchase of units by Mutual Fund or Unit Trust of India||N/A||20%|
|194G||Commission, price, etc. on sale of lottery tickets||15000||5%|
|194H||Commission or brokerage||5000||5%|
|194I||Rent – Land and Building – Furniture – Fittings||180000||10%|
|194IA||Transfer of Certain Immovable property other than agriculture land||500000||1%|
|194J||Fees for professional or technical services||30000||10%|
|194LA||Payment of Compensation on acqusition of immoveable property||250000||10%|
|194LB||Income by way of interest from infrastructre debt fund (Non-Resident)||N/A||5%|
|194LBC||Income from investment in Securitisation Trust||0||25%/30%|
|206C(1)(Viii)||Motor vehicle value exceeding 10,00,000||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||1%|
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Special Note – Highlighted section, Rates & Limit is an Amendment of Budget 2016‐17 And applicable W.E.F. 01/06/2016.
* 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
- 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
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.
Author: – CA. Ajay R. Vaswani
B.Com, LCS, ACA, DISA
Certified Bank Concurrent Auditor (ICAI)
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