Income Tax Act Section | Nature of Payment or Credit | Cut off Amount |
Rate %Individual/ HUF |
Rate % Others |
Section 192 |
TDS on Salary Resident individual whose total income does not exceed Rs. 500000 Others |
2,20,000
2,00,000 |
Monthly Average Rate -do- |
NA
NA |
Section 193 | TDS on Interest on Debenture | 5,000 | 10 | 10 |
Section 194 | TDS on Deemed Dividend | - | 10 | 10 |
Section 194A | TDS on interest other than on Securities (By Bank) | 10,000 | 10 | 10 |
Section 194A | TDS on interest other than Securities (By Others) | 5,000 | 10 | 10 |
Section 194B | TDS on Winning from Lottery/Cross word Puzzle | 10,000 | 30 | 30 |
Section 194BB | TDS on Winning from Horse Race | 5,000 | 30 | 30 |
Section 194C(1) | TDS on Labour Contract, AMC, Work Contract, Man Power
Consultancy -Single Payment Aggregate Payment in F.Y |
30,000
75,000 |
1
|
2
|
Section 194C(2) | TDS on Sub contracts and Advertisement contracts | As above | 1 | 2 |
Section 194D | TDS on Insurance Commission | 20,000 | 10 | 10 |
Section 194EE | TDS on payment of NSS Deposit | 2,500 | 20 | NA |
Section 194H | TDS on commission or brokerage other than insurance Commission | 5,000 | 10 | 10 |
Section 194I | TDS on Rent -Land and Building, Furniture and Fixtures | 1,80,000 | 10 | 10 |
Section 194I
|
TDS on Rent -Plant and Machinery, Equipments | 1,80,000 | 2 | 2 |
Section 194IA | TDS on Transfer of Immovable Property (w.e.f. 1.6.2013) | 50,00,000 | 1 | 1 |
Section 194J | TDS on Professional, Technical Charges, Royalty, Non Compete Fees | 30,000 | 10 | 10 |
Section 194(1)(ba) | TDS on Remuneration or Commission paid to Director | Nil | 10 | 10 |
Section 194LA | TDS on Compensation on Acquisition of Immovable Property | 2,00,000 | 10 | 10 |
Note: No surcharge or cess is applicable on payment made to residents other than salary
Income Tax PAN FAQ, Answers & Guidance
What is the turn over limit for tax audit? Who needs to get audited the accounts under section 44AB?