RATES FOR TAX DEDUCTION AT SOURCE
[AY 2014-15 & AY 2015-16]
Tax is deductible at source at the rates given in table (infra). If PAN of the deductee is not intimated to the deductor, tax will be deducted at source by virtue of section 206AA either at the rate given in the table or at the rate of 20 per cent, whichever is higher†. Further, under section 94A(5), if payment or credit is made or given to a deductee who is located in a notified jurisdictional area, tax is deductible at the rate given in the table or at the rate of 30 per cent, whichever is higher. TDS rates for the financial year 2014-15 are as follows—
| CATEGORY A - WHEN RECIPIENT IS RESIDENT | |
| Nature of payment | TDS (SC : Nil, EC :Nil, SHEC : Nil) |
| • Sec. 192 - Payment of salary [normal tax rates are applicable – SC : 10% (if net income exceeds Rs. 1 crore), EC : 2% and SHEC : 1%] | — |
| • Sec. 193 - Interest on securities— | |
a. interest on (a) debentures/securities for money issued by or on behalf of any local authority/statutory corporation, (b) listed debentures of a company [not being listed securities in demat form], (c) any security of the Central or State Government [i.e., 8% Savings (taxable) Bonds, 2003, but not any other Government security]
| 10 |
b. any other interest on securities (including interest on non-listed debentures)
| 10 |
| • Sec. 194 - Dividend— | |
a. deemed dividend under section 2(22)(e)
| 10 |
b. any other dividend
| Nil |
| • Sec. 194A - Interest other than interest on securities | 10 |
| • Sec. 194B - Winnings from lottery or crossword puzzle or card game or other game of any sort | 30 |
| • Sec. 194BB - Winnings from horse races | 30 |
| • Sec. 194C - Payment or credit to a resident contractor/sub-contractor— | |
a. payment/credit to an individual or a Hindu undivided family
| 1 |
b. payment/credit to any person other than an individual or a Hindu undivided family
| 2 |
| • Sec. 194D - Insurance commission | 10 |
| • Sec. 194DA - Payment in respect of life insurance policy (applicable from October 1, 2014) | 2% |
| • Sec. 194EE - Payment in respect of deposits under National Savings Scheme, 1987 | 20 |
| • Sec. 194F - Payment on account of repurchase of units of MF or UTI | 20 |
| • Sec. 194G - Commission on sale of lottery tickets | 10 |
| • Sec. 194H - Commission or brokerage | 10 |
| • Sec. 194-I - Rent— | |
a. rent of plant and machinery
| 2 |
b. rent of land or building or furniture or fitting
| 10 |
| • Sec. 194-IA - Payment/credit of consideration to a resident transferor for transfer of any immovable property (other than rural agricultural land) | 1 |
| • Sec. 194J - Professional fees, technical fees, royalty or remuneration to a director | 10 |
| • Sec. 194LA - Payment of compensation on acquisition of certain immovable property | 10 |
| • Sec. 194LBA(1) - Payment of the nature referred to in section 10(23FC) by business trust to resident unit holders (applicable from October 1, 2014) | 10% |
---CATEGORY B - WHEN RECIPIENT IS NON-RESIDENT OR FOREIGN COMPANY (Click Here)
---TCS Rates for AY 2014-15 AND AY 2015-16 (Click Here)
---TAX ON DISTRIBUTION OF DIVIDEND, DISTRIBUTED INCOME FOR BUY-BACK OF SHARES AND DISTRIBUTION BY SECURITIZATION TRUST UNDER SECTIONS 115-O, 115QA AND 115TA (Click Here)
---TAX ON INCOME DISTRIBUTED BY UTI/MUTUAL FUND UNDER SECTION 115R (Click Here)