RATES FOR TAX DEDUCTION AT
SOURCE
During the
financial year 2011-12, tax is to be deducted at source at the following
rates:
|
Nature of
payment* |
TDS (SC:
Nil, EC:
Nil, SHEC:
Nil) |
|
�
Sec. 192 -
Payment of
salary to a resident/non-resident [normal rate of tax is applicable � see
para *****, SC : Nil, EC : 2% and SHEC : 1%] |
� |
|
�
Sec.
193 - Interest on
securities to a resident� |
|
|
�� a.�
interest on
(a) debentures/securities for money issued by or on behalf of any local
authority/statutory corporation, (b) listed debentures of a company [not
being listed securities in demat form], (c) any
security of the Central or State Government [i.e., 8% Savings (taxable)
Bonds, 2003, but not any other Government security] |
10 |
|
�� b.�
any other
interest on securities (including interest on non-listed debentures)
|
10 |
|
�
Sec.
194 - Dividend to a
resident� |
|
|
�� a.�
deemed dividend
under section 2(22)(e) |
10 |
|
�� b.�
any other
dividend |
Nil |
|
�
Sec.
194A - Interest
other than interest on securities to a resident |
10 |
|
�
Sec.
194B� - Winnings
from lottery or crossword puzzle or card game or other game of any sort to a
resident/non-resident |
30 |
|
�
Sec.
194BB� - Winnings
from horse races to a resident/non-resident |
30 |
|
�
Sec.
194C - Payment to a
resident contractor/sub-contractor� |
|
|
�� a.�
payment/credit
to an individual or a Hindu undivided family |
1 |
|
�� b.�
payment/credit
to any person other than an individual or a Hindu undivided
family |
2 |
|
�
Sec.
194D - Insurance
commission to a resident |
10 |
|
�
Sec.
194E� - Payment to a
non-resident sportsman or sports association |
10 |
|
�
Sec.
194EE - Payment in
respect of deposits under National Savings Scheme, 1987 to a
resident/non-resident |
20 |
|
�
Sec.
194F - Payment on
account of repurchase of units of MF or UTI to a
resident/non-resident |
20 |
|
�
Sec.
194G� - Commission
on sale of lottery tickets to a resident/non-resident |
10 |
|
�
Sec.
194H - Commission or
brokerage to a resident |
10 |
|
�
Sec.
194-I - Rent to a
resident� |
|
|
�� a.�
rent of plant
and machinery |
2 |
|
�� b.�
rent of land or
building or furniture or fitting |
10 |
|
�
Sec.
194J - Fees for
professional or technical services to a resident |
10 |
|
�
Sec.
194LA - Payment of
compensation to a resident on acquisition of certain immovable
property |
10 |
|
�
Sec.
194LB��� �
TDS on interest payable on
infrastructure debt fund to a non-resident or a foreign
company |
5 |
para
*****
Tax rates for
the assessment year 2012-13 are given below�
�
For
a resident woman (who is below 60 years on the last day of the previous year,
i.e., born on after April 1, 1952)�
|
Net income
range |
Income-tax
rates� |
Education cess |
Secondary and
higher education cess |
|
Up to Rs. 1,90,000 |
Nil |
Nil |
Nil |
|
Rs. 1,90,000 �
Rs. 5,00,000 |
10% of (total
income minus Rs.
1,90,000) |
2% of
income-tax |
1% of
income-tax |
|
Rs. 5,00,000 �
Rs. 8,00,000 |
Rs. 31,000 + 20%
of (total income minus Rs.
5,00,000) |
2% of
income-tax |
1% of
income-tax |
|
Above Rs. 8,00,000 |
Rs. 91,000 + 30%
of (total income minus Rs.
8,00,000) |
2% of
income-tax |
1% of
income-tax |
�
For
a resident senior citizen (who is 60 years or more at any time during the
previous year but not more than 80 years on the last day of the previous year,
i.e., born during April 1, 1932 and March 31, 1952)�
|
Net income
range |
Income-tax
rates� |
Education cess |
Secondary and
higher education cess
|
|
Up to Rs. 2,50,000 |
Nil |
Nil |
Nil |
|
Rs. 2,50,000 �
Rs. 5,00,000 |
10% of (total
income minus Rs.
2,50,000) |
2% of
income-tax |
1% of
income-tax |
|
Rs. 5,00,000 �
Rs. 8,00,000 |
Rs. 25,000 + 20%
of (total income minus Rs.
5,00,000) |
2% of
income-tax |
1% of
income-tax |
|
Above Rs. 8,00,000 |
Rs. 85,000 + 30%
of (total income minus Rs.
8,00,000) |
2% of
income-tax |
1% of
income-tax |
�
For
a resident super senior citizen (who is 80 years or more at any time during the
previous year, i.e., born before April 1, 1932)�
|
Net income
range |
Income-tax
rates� |
Education cess |
Secondary and
higher education cess
|
|
Up to Rs. 5,00,000 |
Nil |
Nil |
Nil |
|
Rs. 5,00,000 �
Rs. 8,00,000 |
20% of (total
income minus Rs. 5,00,000)
|
2% of
income-tax |
1% of
income-tax |
|
Above Rs. 8,00,000 |
Rs. 60,000 + 30%
of (total income minus Rs.
8,00,000) |
2% of
income-tax |
1% of
income-tax |
�
For
any other individual (born after April 1, 1952), every HUF/AOP/BOI/artificial juridical
person�
|
Net income
range |
Income-tax
rates� |
Education cess |
Secondary and
higher education cess
|
|
Up to Rs. 1,80,000 |
Nil |
Nil |
Nil |
|
Rs. 1,80,000 �
Rs. 5,00,000 |
10% of (total
income minus Rs.
1,80,000) |
2% of
income-tax |
1% of
income-tax |
|
Rs. 5,00,000 �
Rs. 8,00,000 |
Rs. 32,000 + 20%
of (total income minus Rs.
5,00,000) |
2% of
income-tax |
1% of
income-tax |
|
Above Rs. 8,00,000 |
Rs. 92,000 + 30%
of (total income minus Rs.
8,00,000) |
2% of
income-tax |
1% of
income-tax |
Notes:
1. Surcharge
-
Nil
2. Education
cess - It is 2 per
cent of income-tax.
3. Secondary and
higher education cess - It is 1 per
cent of income-tax.
*Surcharge
is applicable for TDS purposes only when the recipient is a foreign company and
payment/credit subject to TDS exceeds Rs. 1 crore. In no other case, surcharge is applicable at the time
of deduction of tax at source. Education cess and
secondary and higher education cess are applicable for
TDS purposes in the case of tax deduction from payment of salary to a resident
or a non-resident. Education cess and secondary and
higher education cess are also applicable in the case
of payment or credit of any other sum to a non-resident or a foreign company. In
no other case, education cess and secondary and higher
education cess are applicable for TDS purposes.
Moreover, if the PAN of the deductee is not intimated
to the deductor, tax will be deducted at source 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.
�Under
sections 194B and 194BB, if recipient is a non-resident (other than a foreign
company), tax is deductible at the rate of 30.9% (i.e., IT: 30%, EC: 2%
and SHEC: 1%). If the recipient is a non-domestic
company, tax is deductible at the rate of 30.9% (i.e., IT: 30%, EC: 2%
and SHEC: 1%), if payment does not exceed Rs. 1 crore or at the rate of
31.518% (i.e., IT: 30%, SC: 2%, EC: 2% and SHEC: 1%) if payment/credit exceeds Rs. 1 crore.
�Under sections 194E & 194G,
if recipient is a non-resident (other than a foreign company), tax is deductible
at the rate of 10.3% (i.e., IT: 10%, EC: 2% and SHEC: 1%). If the recipient is a non-domestic company, tax
is deductible at the rate of 10.3% (i.e., IT: 10%, EC: 2% and SHEC: 1%), if payment/credit does not exceed Rs. 1 crore or at the rate of
10.506% (i.e., IT: 10%, SC: 2%, EC: 2% and SHEC: 1%) if payment/credit exceeds Rs. 1 crore.
���Under section 194LB, if
recipient is a non-resident (other than a foreign company), tax is deductible at
the rate of 5.15% (i.e., IT: 5%, EC: 2% and SHEC: 1%). If the recipient is a non-domestic company, tax
is deductible at the rate of 5.15% (i.e., IT: 5%, EC: 2% and SHEC: 1%), if payment/credit does not exceed Rs. 1 crore or at the rate of
5.253% (i.e., IT: 5%, SC: 2%, EC: 2% and SHEC:
1%) if payment/credit exceeds Rs. 1 crore.
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