TDS Rates and Threshold Limit for Financial Year 2014-15

29-Jul-2014 , 12:35:48 pm | By CASANSAAR print

Find the table below for the TDS (Tax Deduction at source) rates and threshold limit for financial year 2014-15 or assessment year 2015-16. In this table there is complete list of the payment on which TDS is deducted, threshold limit, assessee type (tax payer) and rate of TDS.

Also note; Threshold limit mentioned in the table below is the limit upto which no TDS will be deducted.

Sl. No.	Section of Act	Threshold (Rs)	Nature of Payment in brief	Rate %
				Individual/HUF	Others
1	192	-	Salaries	Average rates as applicable
2	193	5000	Interest on debentures	10	10
3	194	-	Deemed dividend	10	10
4	194A	10000	Interest other than Int. on securities (by Bank)	10	10
4A	194A	5000	Interest other than Int. on securities (By others)	10	10
5	194B	10000	Lottery / Cross Word Puzzle	30	30
6	194BB	5000	Winnings from Horse Race	30	30
7	194C(1)	30000	Payment to Contractors	1	2
8	194C(2)	30000	Payment to Sub-contracts/ Advertisements	1	2
9	194D	20000	Insurance Commission	10	10
10	194EE	2500	Payments out of deposits under NSS	20	-
11	194F	1000	Repurchase of units by MF/UTI	20	20
12	194G	1000	Commission on sale of lottery tickets	10	10
13	194H	5000	Commission or Brokerage	10	10
14	194I	180000	Rent (Land & building) furniture & fittings)	10	10
14	194I	180000	Rent (P & M , Equipment)	2	2
15	194 IA	5000000	TDS on transfer of immovable property other than agriculture land (Effective from 1 June 2013)	1	1
16	194J	30000	Professional/Technical charges/ Royalty & Non-compete fees	10	10
17	194J(1)(ba)	-	Any remuneration or commission paid to director of the company (Effective from 1 July 2012)	10	10
18	194LA	200000	Compensation on acquisition of immovable property	10	10

Other Important Points:

No surcharge and education cess to be added while deducting TDS
As per Section 206AA, TDS is required to be deducted @ 20% if the deductee does not possess or fails to furnish PAN.
Person submitting form 15G/15H to avoid TDS needs to submit PAN else 20% TDS will be applicable.
Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.

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