New TDS Rates For the A.Y.2012-13 (F.Y. 2011-12)


We are hereby informed your that the Rates of TDS to be implemented on the Payments made by you in the Financial Year 2011-12 (Assessment Year 2012-13) as per Income Tax Department prescribed with the help of this table one will feel very easy to deduct TDS correctly, which will be With effect from 1-4-2010. The deductee shall furnish his PAN (Permanent Account Number) to deductor, failing which tax at the below rates of TDS or at the rate of 20% whichever is higher shall be deducted at source. Where PAN provided to the deductor is invalid or does not belong to the deductee, it shall be deemed that deductee has not furnish his PAN to the deductor and higher rate of TDS as mentioned below shall be applicable.

No surcharge, education cess and secondary and higher education cess is leviable for the financial year 2010-11 onwards for TDS purposes in case of payment to resident. But in respect of TDS on salary, cess will be leviable.

TDS Rates Chart Assessment Year 2012-13 (Financial Year 2011-12 ) is bellow:


Relevant Section
Nature of Payment (to resident)
Threshold Limit
Individual HUF (Resident in India)
Company Firm/Co-op Sec. Local Authority (Domestic Company)
192
Payment of salary to a resident/non-resident

Normal Income Tax Rates: See Income Tax Slab

193
Interest on securities

10%
10%
194
Deemed dividends u/s 2(22)(e)

10%
10%
194A
Interest other than Interest on securities
5000.00
10%
10%
194B
Lottery or crossword puzzle or card game or other game of any sort.
10000.00
30%
30%
194BB
Horse races
5000.00
30%
30%
194C
Contracts/sub-contracts
30000.00
1%
2%
194D
Insurance Commission
20000.00
10%
10%
194EE
Payment in respect of deposits under NSS
2500.00
20%
-
194F
Payment on account of repurchase of units of MF or UTI
1000.00
20%
10%
194G
Commission on sale of lottery tickets
1000.00
10%
10%
194H
Commission or brokerage
5000.00
10%
10%
194-I
Rent of Plant and Machinery
180000.00
2%
2%

Rent of Land or Building or Furniture and Fitting
180000.00
10%
10%
194J
Fees for professional or technical services
30000.00
10%
10%
194LA
Payment of compensation to a resident on acquisition of certain immovable property
100000.00
10%
10%

Calculate your Income Tax for A. Y. 2012-12 to Deduct as TDS Click Here

GET FREE EMAIL UPDATES

Join us for free and get valuable content delivered right in your inbox.