To All Concerned | |||||||||
Rates of TDS for the F.Y. 2008-09 | |||||||||
Nature of Payment | Section | FA | Max. | If the recipient is an | If the recipient is an individual, | If the recipent is an Company | |||
code | Limit | Individual,HUF payment | payment exceed Rs.1,00,00,000/- | Co-operative soceity, firm or | |||||
does not exceed Rs.1,00,00,000/- | local authority | ||||||||
TDS (%) | TDS (%) | TDS (%) | |||||||
Interest other than Interest on Securities (Other than | |||||||||
Interest by Bank) | 194-A | 12512 | 10000 | 10.300% | 11.330% | 22.660% | |||
Payment of Interest by bank (From 01/06/07 onwards) | |||||||||
Payment to a Contractor | 194-C | 12511 | 20000 | 1.030% | 1.133% | 1.133% | |||
(In case of advertising agency) | |||||||||
Payment to a Contractor | 194-C | 12511 | 20000 | 2.060% | 2.266% | 2.266% | |||
Courier, Security Guard, Office Construction | |||||||||
AMC charges, Repair & maintenance exp. | |||||||||
Photostate & Typing | |||||||||
Printing & Stationary (except Purchase), | |||||||||
Office Maintenance etc. | |||||||||
Payment to a Sub-Contractor | 194-C | 12511 | 20000 | 1.030% | 1.133% | 1.133% | |||
Trucks Attached, Air Freight, Loading-Unloading | |||||||||
Pick-up & Delivery Charges, Forklift Hire Charges | |||||||||
Lorry Hire Charges, Local Booking/Delivery Exp., | |||||||||
Packaging & Forwarding Charges, Octoroi paid to | |||||||||
Agent, Wagon Freight paid to Agent. | |||||||||
Payment of Commission/Brokarege | 194-H | 12514 | 2500 | 10.300% | 11.330% | 11.330% | |||
Any commission or Brokarege paid to | |||||||||
our Agent / Brokers. | |||||||||
Payment of Rent | 194-I | 12515 | 120000 | 15.450% | 16.995% | 22.660% | |||
Any payment by way of rent for the use of | |||||||||
Land or Building/Electricity/Other Charges paid | |||||||||
to the Owner,Hiring charges(genrators,machinery etc.) | |||||||||
Payment of Rent | 194-I | 12515 | 120000 | 10.300% | 11.330% | 11.330% | |||
Any payment by way of rent for the use of | |||||||||
Plant & Machinery | |||||||||
| |||||||||
Fees for professional / Technical services | 194-J | 12513 | 20000 | 10.300% | 11.330% | 11.330% | |||
Professional:-CA/CS/ Lawyers/Advocates etc. | |||||||||
Technical :- Consultants etc. | |||||||||
If you have any confusion regarding any matter of Taxation i.e.TDS , service Tax (Cenvet) pls call on Ph.(Direct)- 9313399283 | |||||||||
E-mail ID's | nagpapu@gmail.com | ||||||||
nagpapu@yahoo.com | |||||||||
NOTE: | |||||||||
1. Surcharge for deducting tax at source shall be leviable in case where payment is made to an individual or HUF, AOP or body of individual when aggregate amount paid or likely to be paid and subject to tax deduction exceeds Rs.10 lakhs, in case payment is made to a firm or a domestic company when aggregate amount paid or likely to be paid exceeds Rs.1 crore. In the case of payment to other than a domestic company the surcharge shall be levied @ 2.5%. Applicability of surcharge, in case payment exceeds the above prescribed limit is effective from 01.04.2007. | |||||||||
2.TDS Certificate to be issued in revised form No. 16, 16A & 27 notified by the CBDT | |||||||||
3. Education Cess @ 3% is applicable with effect from 1.4.2007. | |||||||||
4. Change in rate of deduction of tax at source on payment of commission, brokerage, professional/technical services, rent shall be effective from 01.06.2007. | |||||||||
5. Applicability of increased limit of Rs.10,000/- for non deduction of tax in respect of payment of interest by bank shall be effective from 01.06.2007. | |||||||||
6. Applicability of leviability to deduct tax at source on payment by individual/HUF having turnover exceeding the limit prescribed in Section 44AB in respect of payment to contractors shall be effective from 1st June, 2007. | |||||||||
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