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TDS / TCS RATES FOR F.Y.2015-16
| Section |
Nature of Payment |
Threshold Limit of Payment |
FY (2015-16) |
Form 15G/15H Applicable |
| 192 |
Income from Salary
|
Senior Citizen (60 Years)
|
Rs. 3,00,000
|
Average rate of Tax +Education Cess (Surcharge if Salary > 1 Cr)
|
|
|
Super Senior Citizen (80 Years)
|
Rs. 5,00,000 |
| Others |
Rs. 2,50,000 |
| 192A |
Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)
|
Rs. 30,000
|
10% |
Yes |
| 193 |
Interest on Securities
|
Rs. 5,000
|
10% |
Yes |
| 194A |
Interest from a Banking Company
|
Rs. 10,000 per annum
|
10% |
Yes |
| 194A |
Interest other than from a Banking Company
|
Rs. 5,000 per annum |
10% |
Yes |
| 194B |
Winning from Lotteries & Cross Word Puzzles
|
Rs. 10,000 per annum |
30% |
- |
| 194BB |
Winning from Horse Races
|
Rs. 5,000 per annum
|
30% |
- |
| 194C |
Transporters with valid PAN & to whom 44AE applicable
|
- |
|
0% |
- |
| 194C |
Payment to Contractors; Sub-contractor; Advertising Contractors (including other transporters) |
30,000 per contract (or)
|
| Rs. 75,000 per annum |
|
Individual/HUF 1% Others 2% |
- |
| 194D |
Insurance Commision |
Rs.20,000 |
10% |
- |
| 194DA |
Payment under life insurance policy (including Bonus)
|
Rs.1,00,000 per annum
|
2% |
Yes |
| 194E |
Non-resident Sportman or Sports Association
|
-
|
20% |
- |
| 194EE |
Out of deposit under NSS
|
Rs.2,500
|
| Individual or HUF 20% |
| Other NA |
|
Yes |
| 194G |
Commission on Sale of Lottery Tickets
|
Rs.1,000
|
10% |
- |
| 194H |
Commission/Brokerage |
Rs. 5,000 per annum |
10% |
- |
| 194- I |
Rent on Plant / Machinery |
Rs. 1,80,000 per annum
|
2% |
- |
| 194-I |
Land or building or furniture or fitting
|
Rs. 1,80,000 per annum
|
10% |
- |
| 194- IA |
Payment or transfer of Non agricultural immovable property |
Rs. 50,00,000 & above
|
1% |
- |
| 194J |
Fees for Professional / Technical Services |
Rs. 30,000 per annum
|
10% |
- |
194LA
|
Compulsory Acquisition of immovable Property |
Rs. 2,00,000 |
10% |
- |
| TCS Rates |
| 206C |
Scrap
|
-
|
1.00% |
|
| 206C |
Tendu Leaves
|
-
|
5.00% |
|
| 206C |
Timber obtained under a forest lease or other mode
|
-
|
2.50% |
|
| 206C |
Any other forest produce not being a Timber or tendu leave
|
-
|
2.50% |
|
| 206C |
Alcoholic Liquor for Human Consumption
|
-
|
1.00% |
|
| 206C |
Packing lot, toll plaza, mining & quarrying
|
-
|
2.00% |
|
| 206C |
Purchase of Bullion/ Jewellery in cash |
Rs. 2 Lacs per transaction (Bullion)
Rs. 5 Lacs per transaction (Jewellery)
|
1.00% |
|
| 206C |
Purchase of coal lignite, Iron ore by a trader |
- |
1.00% |
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| Notes |
| 1. Surcharges & Education Cess |
| |
| Type of Payment |
Surcharge
|
Rate |
Education Cess (3.00%) |
| Salary (Resident & Non- resident) |
Upto 1cr |
Nil |
Yes |
| > 1 Crore |
10% |
| Other Payments to Residents |
No |
Nil |
No |
| Other Payments to Non-Residents |
|
|
|
| Payment to Non-Residents (other than Cos) |
Upto 1cr |
Nil |
Yes |
| > 1 Crore |
10% |
| Payments to Foreign Co. |
Upto 1cr |
Nil |
Yes |
| > 1 Crore |
2% |
| > 10 Crores |
5% |
|
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2. Nil Deduction entries of transporters also to be shown in Form 26Q.
3. TDS @ 20%(minimum) where PAN not furnished.
4. Benefit of Marginal Relief from surcharge shall be available where income exceeds 1 cr.
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| Fees and Penalties |
| Section |
Description |
FY (2014-15) |
| 234E |
Fee for late filing of TCS/ TCS return |
Rs 200 per day (not exceeding amount of tax)
|
| 271H(1) (a) |
Penalty for Late filing of TCS/TCS return beyond 1 year
|
Minimum Penalty : Rs. 10,000
Maximum Penalty : Rs. 1 lac
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| 271H(1) (b) |
Penalty for providing incorrect information in TDS/TCS Return |
Minimum Penalty : Rs. 10,000
Maximum Penalty : Rs. 1 lac
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Interest on delay in deposit of tax after deduction
| Stage of deduction |
Rate per month or part of the month
|
|
From date when deductible till actual deduction
|
1.00% |
|
From date of deduction till payment
|
1.50% |
Click here to view TDS / TCS RATES FOR F.Y. 2013-14 & 2014-15
Click here to view TDS / TCS RATES FOR F.Y. 2012-13
Click here to view TDS / TCS RATES FOR F.Y. 2011-12
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