TDS Rates for FY 2013-14 / AY 2014-15

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Applicable TDS Rates are same as were in force for F.Y. 2013-13 except the changes specified below.

I.Rates for deduction of income-tax at source during the financial year 2013-14 from certain incomes other than – “Salaries”.

The rates for deduction of income-tax at source during the financial year 2013-14 from certain incomes other than “Salaries” have been specified in Part II of the First Schedule to the Bill. The rates for all the categories of persons will remain the same as those specified in Part II of the First Schedule to the Finance Act, 2012, for the purposes of deduction of income-tax at source during the financial year 2012-13, except that in case of certain payments made to a non-resident (other than a company) or a foreign company, in the nature of income by way of royalty or fees for technical services, the rate shall be twenty-five percent of such income.

(1)Surcharge –

The amount of tax so deducted, in the case of a non-resident person (other than a company), shall be increased by a surcharge at the rate of ten per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees .

The amount of tax so deducted, in the case of a company other than a domestic company, shall be increased by a surcharge at the rate of two per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees but does not exceed ten crore rupees and it shall be increased by a surcharge at the rate of five per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds ten crore rupees.

No surcharge will be levied on deductions in other cases.

(2) Education Cess –

Education Cess on income-tax” and “Secondary and Higher Education Cess on income-tax” shall continue to be levied at the rate of two per cent. and one per cent. respectively, of income tax including surcharge wherever applicable, in the cases of persons not resident in India including companies other than domestic company.

 II. Rates for deduction of income-tax at source from “Salaries”, computation of “advance tax” and charging of income-tax in special cases during the financial year 2013-14.

The rates for deduction of income-tax at source from “Salaries” during the financial year 2013-14 and also for computation of “advance tax” payable during the said year in the case of all categories of assessees have been specified in Part III of the First Schedule to the Bill. These rates are also applicable for charging income-tax during the financial year 2013-14 on current incomes in cases where accelerated assessments have to be made, for instance, provisional assessment of shipping profits arising in India to non-residents, assessment of persons leaving India for good during the financial year, assessment of persons who are likely to transfer property to avoid tax, assessment of bodies formed for a short duration, etc.

To view the TDS rates of FY: 2013-14, Click here
To view the TDS rates of FY: 2014-15, Click here
To view the TDS rates of FY: 2015-16, Click here
To view the TDS rates of FY: 2016-17, Click here
To view the TDS rates of FY: 2017-18, Click here

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Income Tax rates FY 13-14 after budget 2013 dated 28.02.2013

 There is no change in income tax rates, slabs at all. No change in exemption limit. Only tax rebate of Rs 2000 has been allowed for income tax slabs between 2 lakh-5 lakh. So if your income is more than 500000 and less than 1  crore then no tax rate change for you. Income is more 10 % surcharge has been imposed on income tax more than one crore.

Rebate of Rs 2000 for individuals having total income up to Rs 5 lakh

With a view to provide tax relief to the individual tax payers who are in lower income bracket, it is proposed to provide rebate from the tax payable by an assessee, being an individual resident in India, whose total income does not exceed five lakh rupees.

The rebate shall be equal to the amount of income-tax payable on the total income for any assessment year or an amount of two thousand rupees, whichever is less. Consequently any individual having income up to Rs 2,20,000 will not be required to pay any tax and every individual having total income above Rs. 2,20,000/- but not exceeding Rs. 5,00,000/- shall get a tax relief of Rs. 2000/-. Section 87 has also been consequentially amended.

 

RATES OF INCOME-TAX after Budget 2013 dated 28.02.2013

A. Normal Rates of tax:
1. Where the total income does not exceed Rs. 2,00,000/-. Nil
2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/- 10 per cent of the amount by which the total income exceeds Rs.2,00,000/-
3.Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4.Where the total income exceeds Rs. 10,00,000/-. Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:
1.Where the total income does not exceed Rs.2,00,000/-. Nil
2.Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-. 10 per cent, of the amount by which the total income exceeds Rs. 2,00,000/-
3.Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4.Where the total income exceeds Rs. 10,00,000/-. Rs. 130,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:
1.Where the total income does not exceed Rs. 2,50,000/-. Nil
2.Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-. 10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
3.Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
4.Where the total income exceeds Rs. 10,00,000/-. Rs. 125,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-.
D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
1.Where the total income does not exceed Rs. 5,00,000/- Nil
2.Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
3.Where the total income exceeds Rs.10,00,000/- Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs.10,00,000/-
1. Surcharge on Income tax: There will be no surcharge on income tax payments by individual taxpayers during FY 2011-12 (AY 2012-13).
2. Cess :3 %
3. 10 % surcharge applicable on income more than one crore
4.Rs 2000 rebate for Income up to Rs 500000/-

Others changes:

  1. Home loan deduction additional one lakh for loans up to 25 lakh for new houses after 01.04.2013
  2. Securities transaction (STT) tax reduced.
  3. CTT (Commodity transaction Tax) imposed.
  4. Rajiv Gandhi equity scheme available for 2 years more, further income limit increased to 12 lakh.


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Browser settings for Income Tax e-filing website

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Browser Settings

Income Tax Department recommends that you use the following browser specifications for the best view of https://incometaxindiaefiling.gov.in website. You may still be able to use the e-filing website using other browsers and versions, but the pages may not display properly or you may experience difficulties to use all of the functionality.

  • Mozilla Firefox ( versions 11.0, 12.0, 13.0 )
  • Google Chrome ( versions 19.0.x, 20.0.x, 21.0.x)
  • Internet Explorer ( version 7.0, 8.0, 9.0 )
  • Safari ( versions 3.0, 4.0, 5.0)

Enable Java script in Mozilla Firefox:

  • From the menu bar, select Tools >> Options.
  • From the Options window, select the Content icon. Check the “Load images automatically”,”Enable JavaScript” and “Enable Java” checkboxes.
  • Click OK button.

To delete cookies in Mozilla Firefox:

  • From the menu bar select Tools >> Clear Recent History.
  • From “Clear All History” window select the checkboxes for the types of information that you want to remove.
  • Use the menu at the top to select the amount of data that you want to delete. Select “Everything”.
  • Click on “Clear Now”.

Enable Java script in Google Chrome:

  • Select Customize and control Google Chrome (the icon with 3 stacked horizontal lines) to the right of the address bar.
  • From the drop-down menu, select Settings.
  • At the bottom of the page, click Show advanced settings.
  • Under Privacy, select the Content settings.
  • Under the JavaScript heading, select the “Allow all sites to run JavaScript” radio button.

To delete cookies in Google Chrome:

  • Select Customize and control Google Chrome (the icon with 3 stacked horizontal lines) to the right of the address bar.
  • Select Tools.
  • Select “Clear browsing data”.
  • In the dialog that appears, select the checkboxes for the types of information that you want to remove.
  • Use the menu at the top to select the amount of data that you want to delete. Select beginning of time to delete everything.

Enable JavaScript in Microsoft Explorer:

  • Click on the gear icon on the Internet Explorer Browser (top right corner).
  • Select “Internet Options”.
  • Next click “Security” tab.
  • Then select “Custom level”.
  • Scroll down for Scripting section.
  • Enable Active Scripting.
  • Click OK.

To delete cookies in Microsoft Internet Explorer:

  • Click on the gear icon on the Internet Explorer Browser (top right corner).
  • Select “Tools”.
  • In the “General” tab, Select “Delete browsing history”.
  • Select the “Cookies” check box, and then click “Delete”.

Enable Java Script in Safari:

  • Click on the gear icon on Safari Browser (top right corner).
  • Select “Preferences”.
  • Select “Security”.
  • Then select Enable Java Script from Web content.

To delete cookies in Safari:

  • Click on the gear icon on Safari Browser (top right corner).
  • Select “Preferences”.
  • Select “Privacy tab”.
  • Click on “Remove All Website Data”.
  • Click on “Remove Now”.
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Form 16,16A, 24Q, 26Q, 27C, 27D, 27Q, 27EQ Amended Notification 11/2013

TDS related forms and rules regarding digital singnature of TDS return has been changed through INCOME-TAX (SECOND AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 31A & 31AA; SUBSTITUTION OF RULES 31ACB, 37J and FORM NOS.15G, 15H, 16, 16A, 24Q, 26Q, 27C, 27D, 27Q & 27EQ and INSERTION OF FORM NO. 26B, notification no 11/2013 date 19.02.2012. Though the changes in the forms are not major but we have to use new forms.

Form 16: (Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary): Changes has been made to incorporate new deduction section 80TTA but no specific column has been made for 80CCG.

Form 16A: (Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source): No major change, further we should not bother about it as we have to download form 16A from TRACES website and they will amend form where ever required.

Form 24Q: (Quarterly Statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of salary):

  1. Columns in challan sheet has been rearranged.
  2. Surcharge column has been deleted as surcharge is not applicable in case of tds from salaried employees.
  3. In challan sheet new column has been added to fees payment for delay in etds return under section 234E .
  4. Whether TDS deposited by book entry? Yes/No has been changed to deposited by challan write (C) and by book entry write (B).
  5. Minor Head column has been inserted (312) in challan sheet (200 or 400).
  6. In deductee sheet a column to provide certificate number for less deduction of income tax under section 197(1).
  7. Section code 92A,92B ,92C has been interested.

Form 26Q: (Quarterly Statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of other than salary): In this Form in challan sheet new column has been added to fees payment for delay in etds return under section 234E .

  1. Columns in challan sheet has been rearranged.
  2. Surcharge column and education cess column has been deleted as surcharge/cess is not applicable in case of tds other than salary.
  3. In challan sheet new column has been added to fees payment for delay in etds return under section 234E.
  4. Whether TDS deposited by book entry? Yes/No has been changed to deposited by challan write (C) and by book entry write (B).
  5. Minor Head column has been inserted (312) in challan sheet (200 or 400).
  6. In deductee sheet a column to provide certificate number for less deduction of income tax under section 197.
Form 15G
Declaration under section 197A(1) and section 197A(1A) of the Income-tax Act, 1961 to be made by an individual or a person (not being a company or firm claiming certain receipts without deduction of tax
218.05 KB Download
Form 15H
Declaration under section 197A(1C) of the Income-tax Act, 1961 to be made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax.
76.09 KB Download
Form 16
Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary
113.14 KB Download
Form 16A
Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source
132.26 KB Download
Form 24Q
Quarterly Statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of salary (quarterly)
483.32 KB Download
Form 26Q
[See sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194-I, 194J, 194LA, and rule 31A] Quarterly statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of payments other than salary
353.62 KB Download
Form 27C
Declaration under sub-section (1A) of section 206C of the Income-tax Act, 1961 to be made by a buyer for obtaining goods without collection of tax
105.5 KB Download
Form 27D
Certificate under section 206C of the Income-tax Act, 1961 for tax collected at source
130.54 KB Download
Form 27EQ
Quarterly statement of collection of tax at source under section 206C of the Income-tax Act
372.94 KB Download
Form 27Q
Quarterly statement of deduction of tax under sub-section (3) of section 200 of the Income-tax Act in respect of payments other than salary made to non-residents
374.06 KB Download
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