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Wednesday, 5 June 2013

TDS/TCS Rates Chart for AY 2014-15

CA Pardeep Kumar
In the Chart given below Author has compiled the TDS / TCS  rates as applicable for Assessment year (AY) 2014-15 or Financial Year (FY) 2013-14.  In this Year Government has made TDS applicable on Compensation / Consideration on transfer of certain immovable property other than agricultural land (w.e.f. 01 .06.2013). Read – TDS on transfer of immovable properties wef 01.06.2013 & How to pay. In addition to this government has also introduced Concessional rate of TDS in respect of interest income of a non-resident from rupee-denominated bonds or government securities u/s. 194LD.
A. TDS Rate Chart for A Y 2014-15 on Payments other than Salary and Wages
  Section
No.
Nature of Payment
Threshold
Total Payment
During the Year
Payment to
Individual
or HUF
Others
193
Interest on Debentures
Rs. 5000/-
10%
10%
194
Deemed Dividend
-
10%
10%
194 A
Interest by banks (Other than interest on securities)
Rs. 10000/-
10%
10%
194 A
Interest by Others (Other than interest on securities)
Rs. 5000/-
10%
10%
194 B
Winnings from Lotteries / Puzzle / Game
Rs. 10000/-
30%
30%
194 BB
Winnings from Horse Race
Rs. 5000/-
30%
30%
194 C (1)
Payment to Contractors
Rs. 30000/-
1%
2%
194 C (2)
Payment to Sub-Contractors / for Advertisements
Rs. 30000/-
1%
2%
194 D
Payment of Insurance Commission
Rs. 20000/-
10%
10%
194 EE
Out of deposits under NSS
Rs. 2500/-
20%
NA
194 G
Commission on Sale of Lottery tickets
Rs. 1000/-
10%
10%
194 H
Commission or Brokerage
Rs. 5000/-
10%
10%
194 I
Rent of Land, Building or Furniture
Rs. 180000/-
10%
10%
194 I
Rent of Plant & Machinery
Rs. 180000/-
2%
2%
194 J
Professional / technical services, royalty
Rs. 30000/-
10%
10%
194 J
(1)
Remuneration / commission to director of the company
-
10%
10%
194 J (ba) w.e.f. 01 .07.2012Any remuneration / fees / commission to a director of a company, other than those on which tax is deductible under section 192.
-
10%
10%
194 LA
Compensation on acquisition of certain immovable property
Rs. 2,00,000/-
10%
10%
194 IA
Compensation on transfer of certain immovable property other than agricultural land (w.e.f. 01 .06.2013)
Consideration is
Rs. 50 lakh or
more.
1%
1%
194LD
Interest on certain bonds & Govt. securities (w.e.f. 01 .06.2013)
5%
5%
 B. The Tax Collection at Source Rates for the Financial Year 2013-14 is tabulated below:
Sl. No.
Nature of Goods
Rates in %
1
Alcoholic liquor for human Consumption
1
2
Tendu leaves
5
3
Timber obtained under forest lease
2.5
4
Timber obtained by any mode other than a forest lease
2.5
5
Any other forest produce not being timber or tendu leaves
2.5
6
Scrap
1
7
Parking lot
2
8
Toll plaza
2
9
Mining & Quarrying
2
10
Minerals, being coal or lignite or iron ore
1
11
Bullion or jewellery (if the sale consideration is paid in cash  exceeding INR 2 lakhs)
1
(The author, Pardeep Kumar, is a Chartered Accountant from Rohtak, Haryana. He can be reached at pardeep.kumar2@escorts.co.in)

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