What is TDS Rate in India for Financial Year 2015-16? What are the Exemption Limit for Assessment Year 2016-17 (FY 2015-16)?

TDS Rates for Financial Year (FY) 2015-16 Assessment Year (A.Y. 2016-17)

 

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

  

2,50,000

 

2,50,000

  

Monthly Average Rate

-do-

  

NA

 

NA
Section 192A Payment of accumulated balance due of Employees? Provident Fund Scheme, 1952, to Employees (w.e.f 01-06-15) when the amount of payment or aggregate amount of payment exceeds Rs. 30,000/- 10% NA
Section 193

Interest on securities a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;b) any debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; c) any security of the Central or State Government; d) interest on any other security

 At the time of credit or payment, whichever is earlier, when the amount exceeds Rs. 5,000/- 10% NA
Section 194 Before making payment to? shareholder, other than dividend declared U/s. 115-0, when amount exceeds Rs. 2,500/- Rs. 2500 20%  
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 5,000 30% 30%
Section 194BB TDS on Winning from Horse Race 2,500 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%

 


1%

 2%

 


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 194DA Payment under life insurance policy (including Bonus) At the time of payment when the amount or the total amount during the whole year exceeds Rs. 1,00,000/- 2%  
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 194LB Payment of interest on infrastructure debt fund to non resident or foreign company At the time of credit or payment whichever is earlier 5% 5%
Section 194LBB Payment of distributed income to unit holder in respect of units of an investment fund (w.e.f 01-06-15) At the time of credit or payment whichever is earlier 10v 10%
Section 194LC Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond) At the time of credit or payment whichever is earlier 5% 5%
Section 194 LD Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor At the time of credit or payment whichever is earlier 5% 5%
Section 206C Collection on Sale of bullion and Jewellery At time of sale, if sale consideration is received in cash in excess of Rs. 2 Lacs . 1% 1%

Note : Surcharge, education cess and secondary and higher education cess will be added to the above tax rate, as applicable.