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| INCOME TAX : |
| TDS : |
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| Rate of Tax
Deducted at source : |
During the financial
year 2009-10, tax is to be deducted at source
at the following rate:- |
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Section |
Nature of Payment |
TDS [SC-Nil,
EC-Nil, SHEC-Nil] |
192 |
Payment of salary to resident/non
resident [normal rate of tax is applicable
[SC-Nil,EC-2% & SHEC -1%] |
|
193 |
Interest on securities to
a resident:-
a)Interest on :- |
10
|
i)Debentures/securities for money issued by
or on behalf of any
local authority/statutory corporation,
ii)Listed debenture of a company [not being
listed security in
DEMAT form]
iii)any security of the central or state government
[i.e. 8% savings
(taxable)bond,2003,but not any other government
security] |
|
| b) any other interest on securities
(including interest on non listed debentures) |
10 |
194 |
Dividend to a resident:-
- Deemed dividend U/S 2(22)(e)
- Any other dividend
|
10
Nil |
194A |
Interest other than interest
on securities to a resident |
10 |
194B |
Winning from lotteries or
crossword puzzle or card game or other game
of any sort to a resident or non resident |
30 |
194BB |
Winning from horse race
to a resident/non resident |
30 |
194C |
Payment to resident contractor/sub
contractor:- |
|
a)payment/credit to a contractor
(in case of advertising contract)
(up to September 30,2009) |
1 |
b)Payment/credit to contractor
(other than an advertising contract)
(Up to September 30,2009) |
2 |
| c) Payment/credit to a sub
contractor (up to September 30,2009) |
1 |
| d) payment/credit to individual
or a HUF(with effect from October 1,2009) |
1 |
e) Payment/credit to any person
other than an individual or a HUF
(with effect from October 1,2009) |
2 |
194D |
Insurance commission to
a resident |
10 |
194E |
Payment to a non-resident
sportsman or sports association |
10 |
194EE |
Payment in respect of deposit
under National Savings Scheme,1987 to a
resident/non resident |
20 |
| 194F |
Payment on account of repurchase
of unit of MF or UTI to resident or/non resident |
20 |
| 194G |
Commission on sale of lottery
ticket to a resident/non-resident |
10 |
| 194H |
Commission or brokerage to
a resident |
10 |
| 194I |
Rent to a resident:-
a)rent of plant, machinery, or equipment (Up
to September 30,2009) |
10 |
| b)Rent of land, building or
furniture to an individual an HUF (up to September
30,2009) |
15 |
| c)Rent of land, building or
furniture to a person other than an individual
or HUF (Up to September 30,2009) |
20 |
| d)Rent of plant an machinery(with
effect from October 1,2009) |
2 |
| e) rent of land or building
or furniture or fitting (with effect from
October 1,2009) |
10 |
| 194J |
Fees for Professional or technical
services to a resident |
10 |
| 194LA |
Payment of compensation to
a resident on acquisition of certain immovable
property. |
10 |
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Surcharge is applicable
for TDS on when the recipient is a foreign company
and payment/credit subject to TDS exceed Rs.1crore.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 purpose in the case of Tax
deduction from payment of salary to 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 other
case, education cess and secondary and higher
education cess are applicable for TDS purpose.
U/S 194B and 194BB,if 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 the recipient
is a non domestic company, tax is deductible at
the rate of 30.9% (i.e. IT 30%,SC 2.5%,EC 2% and
SHEC 1%) if payment/credit exceeds Rs.1 Crore.
U/S 194 G, if the recipient is non resident
(other than a foreign company)tax is deductible
at the rate of 10.3% (i.e. IT 10%,EC 2%,SHEC1%).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 the payment/credit does not
exceed Rs.1 crore or at the rate of 10.5575% (IT
10%,SC 2.5% EC:-2% and SHEC 1%) if the payment/credit
exceed Rs.1 crore. |
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If
the recipient is:-
(a)Non resident non-corporate person
(payment/credit may or may not exceed Rs.1
crore)
(b) non domestic company and aggregate
payment or credit does not exceed Rs.1 crore
(SC-Nil, EC-2%, SHEC-1%) |
If
the recipient is a non domestic company
and aggregate payment/credit subject to
tax deduction exceed Rs.1 crore
(SC-2.5%, EC-2%, SHEC-1%) |
Nature
of Payment |
Rate |
Rate |
Sec 195:- Payment
of other sum to a non resident [see note
2]:- |
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| (a)Income from foreign exchange
assets payble to an Indian citizen |
20.6% |
N.A |
| (b)Income by way of long term
capital gain referred to in section 115E |
10.3% |
N.A |
| (c)Short term capital gain
U/S 111A |
15.45% |
15.83625% |
| (d)Long term capital gain [not
being covered by section 10(33),10(36) and
10(38) ] |
20.6% |
21.115% |
| (e)income by way of interest
payable by government/Indian concern on money
borrowed or debt incurred by Government or
Indian concern in foreign currency |
20.6% |
21.115% |
| (f)Royalty [see note 5] |
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(i)
Where the agreement is made before June 1,1997
(ii) where the agreement
is made after May 31,1997 but before June
1,2005
(iii)
where the agreement is made on or after June
1,2005 |
30.9%
20.6%
10.3% |
31.6725%
21.115%
10.5575% |
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| (g) royalty [not being royalty
of the nature referred to in (f) Supra]
[See note 6] |
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| (i) where the agreement is
made after march 31,1961 but before April
1,1976 |
|
|
--if
the recipient is a non resident non corporate
person
--if
the recipient is a non domestic Company |
30.9%
51.5% |
NA
52.7875% |
| (ii) where the agreement is
made after march 31, 1976 but before June
1,1997 |
30.9% |
31.6725% |
| (iii) where the agreement is
made after may 31,1997 but before June 1,2005 |
20.6% |
21.115% |
| (iv) where the agreement is
made on or after June 1,2005 |
10.3% |
10.5575% |
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| (h) Fees for technical service
[see note 7]:- |
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| (i)where the agreement is made
after February 29,1964 but before April 1,1976 |
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|
--
if the recipient is a non resident non corporate
person
-- if
the recipient is non domestic Company |
30.9%
51.5% |
NA
52.7875% |
| (ii) where the agreement is
made after march 31,1976 but before June 1,1997 |
30.9% |
31.6725% |
| (iii) where the agreement is
made after May 31,1997 but before June 1,2005 |
20.6% |
21.115% |
| (iv) where the agreement is
made on or after June 1,2005 |
10.3% |
10.5575% |
(I) Any other income:-
(i) if the
recipient is a non resident and non corporate
assessee
(ii) if the recipient is a non domestic Company |
30.9%
41.2% |
NA
42.23% |
| Sec 196B:-Income
from unit [including long term capital gain
on transfer of such unit] to an offshore fund |
10.3% |
10.5575% |
| Sec 196C:- Income from foreign currency bond or GDR (including
long term capital gain on transfer of such
bonds) (not being divided) |
10.3% |
10.5575% |
| Sec196D:-Income
from foreign institutional investor from securities
(not being dividend, short term or long term
capital gain) |
20.6% |
21.115% |
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Notes:-
- U/S 192 tax is deductible from salary. The
payer shall calculate salary taxable in the
hand of the recipient. The amount so determined
is subject to tax deduction U/S 192. U/S 195,
tax is deductible only if income is taxable
in the hand of recipient in India. In any other
case ,gross payment is subject to tax deduction.
- Tax is deductible at source U/S 195 at the
above rate or the rate specified in ADT agreement
entered in central government U/S 90[ which
ever is lower] [section 2(37A)(iii)],
- Tax is not deductible U/S 193,194,194A or
194EE if the recipient makes a declaration in
Form No.15G/15H under the provision of section
197A,
- U/S197 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 the tax is deductible U/S 194B,
194BB, 194E, 194EE, 194F, 196B, 196C, or 196D.
- 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 right ( including the granting of license)
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.
- 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.
- 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.
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