|
Sr. No. |
Nature of Payment |
Rates of TDS where deductee is a resident |
Remarks |
|
|
|
The present rates |
Proposed rates under the Code |
|
|
1. |
Salary paid to employees |
Rates as per the slabs and rates prescribed by the Finance Act |
Average rate of tax on salary paid during the financial year |
__ |
|
2. |
Payment in respect of works contract |
1% (where deductee is individual/HUF)
2% (where deductee is person other than individual/HUF) |
2% |
__ |
|
3. |
Payment in respect of any service contract |
__ |
2% |
__ |
|
4. |
Payment in respect of broadcasting and telecasting/advertising |
1% (where deductee is individual/HUF)
2% (where deductee is person other than individual/HUF) |
2% |
__ |
|
5. |
Supply of labour for carrying out any works, or service contract |
1% (where deductee is individual/HUF)
2% (where deductee is person other than individual/HUF) |
2% |
__ |
|
6. |
Payment in respect of carriage of goods and passengers by any mode of transport other than railways
|
1% (where deductee is individual/HUF)
2% (where deductee is person other than individual/HUF) |
2% (No deduction of TDS in case of carriage of goods by road if deductee furnishes PAN) |
__ |
|
7. |
Interest
|
10% |
10% |
__ |
|
8. |
Dividend other than dividend on which DDT is payable |
10% |
10% |
__ |
|
9. |
Commission, brokerage, remuneration or prize (by whatever name called) for rendering any services |
10% |
10% |
__ |
|
10. |
Fees for professional or technical services |
10% |
10% |
__ |
|
11. |
Payment for royalty or non-compete fees |
10% |
10% |
__ |
|
12. |
Compensation on compulsory acquisition of immovable property other than agricultural land |
10% |
10% |
__ |
|
13. |
Rent for the use of machinery or plant or equipment |
2% |
2% |
__ |
|
14. |
Rent for use of land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings |
10% |
10% |
__ |
|
15. |
Winning from any lottery or crossword puzzle or card game or other game of any sort |
30% |
30% |
__ |
|
16. |
Winnings from any horse race |
30% |
30% |
__ |
|
17. |
Income distributed by mutual fund on which income distribution tax is not paid |
__ |
10% (where deductee is individual/HUF)
20% (where deductee is person other than individual/ HUF) |
Threshold for not deducting TDS-where payment to unitholder does not exceed Rs. 10,000 in any financial year. TDS proposed to be introduced for 1st time. No TDS in 1961 Act at present on this payment. |
|
18. |
Payment by a life-insurer where payment under life policy is not tax-exempt |
__ |
10% (where deductee is individual/HUF)
20% (where deductee is person other than individual/HUF) |
Threshold for not deducting TDS-where payment to policyholder does not exceed Rs. 10,000 in any financial year. TDS proposed to be introduced for 1st time. No TDS in 1961 Act at present on this payment. |
