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Smart & Easy TDS Software for Preparing TDS Returns

TDSMAN Blog - Smart & Easy TDS Software for Preparing TDS Returns

TDS and TCS Rates for FY: 2016-17 (Domestic)

TDS Rates for FY: 2016-17

(Domestic)

Nature of Payment Made To Residents

Threshold(Rs.)

Company / Firm / Co-operative Society / Local Authority

Individual / HUF

If No / Invalid PAN

Section – Description IT Rate (%) IT Rate (%)

IT Rate (%)

192 – Salaries

NA Average rates as applicable

30

192A – Payment of accumulated balance due to an employee.(applicable from 01.06.2015)

30000

10% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

30

193 – Interest on securities

10000

10 10

20

194 – Dividends

2500

10 10

20

194A – Interest other than interest on securities – Others

10 10

20

194A – Banks

10000

10 10

20

194B – Winning from Lotteries

10000

30 30

30

194BB – Winnings from Horse Race

5000 (1-April-2016 to 31-May-2016)

10000 (1-Jun-2016 to 31-Mar-2017)

30 30

30

194 C – Payment to Contractors

Payment to Contractor

75000 (1-April-2016 to 31-May-2016)

100000 (1-Jun-2016 to 31-Mar-2017)

2 1

20

– Contract –

Transporter who has provided valid PAN

20

194D – Insurance Commission

20000 (1-April-2016 to 31-May-2016)

15000 (1-June-2016 to 31-Mar-2017)

10 5

20

194DA Payment in respect of life insurance policy(applicable from 01.10.2014)

100000

2 % (1-April-2016 to 31-May-2016)

1 % (1-June-2016 to 31-Mar-2017)

2 % (1-April-2016 to 31-May-2016)

1 % (1-June-2016 to 31-Mar-2017)

20

194E – Payment to Non-Resident Sportsmen or Sports Association

20 20

20

194EE – Payments out of deposits under NSS

2500

20% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

20% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

20

194F – Repurchase Units by MFs

0

20 20

20

194G – Commission – Lottery

1000 (1-April-2016 to 31-May-2016)

15000 (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

20

194H – Commission / Brokerage

5000 (1-April-2016 to 31-May-2016)

15000 (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

20

194I – Rent – Land and Building / furniture / fittings

180000

10 10

20

194I – Rent – Plant / Machinery / equipment

180000

2 2

20

194IA -Transfer of certain immovable property other than agriculture land(w.e.f 1-6-2013)

5000000

1 1

20

194J – Professional Fees

30000

10 10

20

194LA – Immovable Property

200000 (1-April-2016 to 31-May-2016)

250000 (1-June-2016 to 31-Mar-2017)

10 10

20

194LB – Income by way of interest from infrastructure debt fund (non-resident)

5 5

20

194LBA – Certain income from units of a business trust(applicable from 01.10.2014)

10 10

20

194LBA – Certain income from units of a business trust to non resident (applicable from 01.10.2014)

5 5

20

194LBB – Income in respect of units of investment fund. (applicable from 01.06.2015)

10% For Residents

10% For Non Residents (1-April-2016 to 31-May-2016)

40% For Non Residents (1-Jun-2016 to 31-Mar-2017)

10% For Residents

10% For Non Residents ( 1-April-2016 to 31-May-2016)

30 % For NonResidents (1-Jun-2016 to 31-Mar-2017)

20/30/40

Sec 194LBC – Income in respect of investment in securitisation trust.

30% For Residents

40% For Non Residents

25% For Residents

30% For Non Residents

25/30/40

Sec 194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012)

5 5

20

194LD – Interest on certain bonds and govt. Securities(from 01-06-2013)

5 5

20

Click here to view complete list of TDS Rates for FY: 2016-17.

TCS Rates for FY: 2016-17

Section Nature of Payment Cut-off Amount TCS Rates (%)
FY:2012-13 to 2015-16 FY:2016-17
      Individual / HUF Other Individual / HUF Other
206C Scrap 1 1 1 1
206C Tendu Leaves 5 5 5 5
206C Timber obtained under a forest lease or other mode 2.5 2.5 2.5 2.5
206C Any other forest produce not being a timber or tendu leave 2.5 2.5 2.5 2.5
206C Alcoholic Liquor for human consumption 1 1 1 1
206C Parking Lot, toll plaza, mining and quarrying 2 2 2 2
206C Minerals, being coal or lignite or iron ore (applicable from July 1, 2012) 1 1 1 1
206C Bullion if consideration (excluding any coin / article weighting 10 grams or less) exceeds Rs. 2 Lakhs or jewellery if consideration exceeds Rs. 5 Lakhs (and any amount is received in cash) (applicable from July 1, 2012) 1 1 1 1
206C TCS on sale in cash of any goods (other than bullion/jewellary) 200000 1 1
206C TCS on providing of any services (other than Ch-XVII-B) 200000 1 1
206C TCS on Motor Vehicle 1000000 1 1

Source: TRACES

Prepare error free TDS returns with TDSMAN

For more information, visit www.tdsman.com

To view the TDS rates of FY: 2012-13, Click here
To view the TDS rates of FY: 2013-14, Click here
To view the TDS rates of FY: 2015-16, Click here
To view the TDS rates of FY: 2016-17, Click here

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TDS and TCS Rates for FY: 2016-17 (Domestic)

TDS Rates for FY: 2016-17

(Domestic)

Nature of Payment Made To Residents

Threshold(Rs.)

Company / Firm / Co-operative Society / Local Authority

Individual / HUF

If No / Invalid PAN

Section – Description IT Rate (%) IT Rate (%)

IT Rate (%)

192 – Salaries

NA Average rates as applicable

30

192A – Payment of accumulated balance due to an employee.(applicable from 01.06.2015)

30000

10% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

30

193 – Interest on securities

10000

10 10

20

194 – Dividends

2500

10 10

20

194A – Interest other than interest on securities – Others

10 10

20

194A – Banks

10000

10 10

20

194B – Winning from Lotteries

10000

30 30

30

194BB – Winnings from Horse Race

5000 (1-April-2016 to 31-May-2016)

10000 (1-Jun-2016 to 31-Mar-2017)

30 30

30

194 C – Payment to Contractors

Payment to Contractor

75000 (1-April-2016 to 31-May-2016)

100000 (1-Jun-2016 to 31-Mar-2017)

2 1

20

– Contract –

Transporter who has provided valid PAN

20

194D – Insurance Commission

20000 (1-April-2016 to 31-May-2016)

15000 (1-June-2016 to 31-Mar-2017)

10 5

20

194DA Payment in respect of life insurance policy(applicable from 01.10.2014)

100000

2 % (1-April-2016 to 31-May-2016)

1 % (1-June-2016 to 31-Mar-2017)

2 % (1-April-2016 to 31-May-2016)

1 % (1-June-2016 to 31-Mar-2017)

20

194E – Payment to Non-Resident Sportsmen or Sports Association

20 20

20

194EE – Payments out of deposits under NSS

2500

20% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

20% (1-April-2016 to 31-May-2016)

10% (1-Jun-2016 to 31-Mar-2017)

20

194F – Repurchase Units by MFs

0

20 20

20

194G – Commission – Lottery

1000 (1-April-2016 to 31-May-2016)

15000 (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

20

194H – Commission / Brokerage

5000 (1-April-2016 to 31-May-2016)

15000 (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

10% (1-April-2016 to 31-May-2016)

5 % (1-Jun-2016 to 31-Mar-2017)

20

194I – Rent – Land and Building / furniture / fittings

180000

10 10

20

194I – Rent – Plant / Machinery / equipment

180000

2 2

20

194IA -Transfer of certain immovable property other than agriculture land(w.e.f 1-6-2013)

5000000

1 1

20

194J – Professional Fees

30000

10 10

20

194LA – Immovable Property

200000 (1-April-2016 to 31-May-2016)

250000 (1-June-2016 to 31-Mar-2017)

10 10

20

194LB – Income by way of interest from infrastructure debt fund (non-resident)

5 5

20

194LBA – Certain income from units of a business trust(applicable from 01.10.2014)

10 10

20

194LBA – Certain income from units of a business trust to non resident (applicable from 01.10.2014)

5 5

20

194LBB – Income in respect of units of investment fund. (applicable from 01.06.2015)

10% For Residents

10% For Non Residents (1-April-2016 to 31-May-2016)

40% For Non Residents (1-Jun-2016 to 31-Mar-2017)

10% For Residents

10% For Non Residents ( 1-April-2016 to 31-May-2016)

30 % For NonResidents (1-Jun-2016 to 31-Mar-2017)

20/30/40

Sec 194LBC – Income in respect of investment in securitisation trust.

30% For Residents

40% For Non Residents

25% For Residents

30% For Non Residents

25/30/40

Sec 194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012)

5 5

20

194LD – Interest on certain bonds and govt. Securities(from 01-06-2013)

5 5

20

Click here to view complete list of TDS Rates for FY: 2016-17.

TCS Rates for FY: 2016-17

Section Nature of Payment Cut-off Amount TCS Rates (%)
FY:2012-13 to 2015-16 FY:2016-17
      Individual / HUF Other Individual / HUF Other
206C Scrap 1 1 1 1
206C Tendu Leaves 5 5 5 5
206C Timber obtained under a forest lease or other mode 2.5 2.5 2.5 2.5
206C Any other forest produce not being a timber or tendu leave 2.5 2.5 2.5 2.5
206C Alcoholic Liquor for human consumption 1 1 1 1
206C Parking Lot, toll plaza, mining and quarrying 2 2 2 2
206C Minerals, being coal or lignite or iron ore (applicable from July 1, 2012) 1 1 1 1
206C Bullion if consideration (excluding any coin / article weighting 10 grams or less) exceeds Rs. 2 Lakhs or jewellery if consideration exceeds Rs. 5 Lakhs (and any amount is received in cash) (applicable from July 1, 2012) 1 1 1 1
206C TCS on sale in cash of any goods (other than bullion/jewellary) 200000 1 1
206C TCS on providing of any services (other than Ch-XVII-B) 200000 1 1
206C TCS on Motor Vehicle 1000000 1 1

Source: TRACES

Prepare error free TDS returns with TDSMAN

For more information, visit www.tdsman.com

To view the TDS rates of FY: 2012-13, Click here
To view the TDS rates of FY: 2013-14, Click here
To view the TDS rates of FY: 2015-16, Click here
To view the TDS rates of FY: 2016-17, Click here

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Proposed TDS Rates Chart for F.Y. 2016-17

The TDS rates chart for the financial year 2016-17 as proposed in the budget has been given below:

Proposed TDS rates for F.Y. 2016-17

(w.e.f. 01.06.2016)

* Changed values are highlighted in RED

Nature of Payment Made To Residents

Cutoff (Rs.)

Company / Firm / Co-operative Society / Local Authority

Individual / HUF

If No / Invalid PAN

Section – Description

                       Rate  (%)                                          

192 – Salaries NA Avg rates 30
192A-Premature withdrawal from EPF ( wef 01.06.2015) 50000 NA 10 20
193 – Interest on securities 10 10 20
194 – Dividends 2500 10 10 20
194A – Interest other than interest on securities – Others 5000 10 10 20
194A – Banks(Time deposits) 10000 10 10 20
194A – Banks (Recurring deposit)(01.06.15) 10000 10 10 20
194A – Deposit in Co-op Banks (01.06.15) 10000 10 10 20
194B – Winning from Lotteries 10000 30 30 30
194BB – Winnings from Horse Race 10000 30 30 30
194 C – Payment to Contractors
194C- Payment to Contractor – Single Transaction 30000 2 1 20
194C-Payment to Contractor – Aggregate During the F.Y. 100000 2 1 20
194C- Contract – Transporter who has provided valid PAN (up to 31.05.2015) 20
194C- Contract – Transporter not covered under 44AE (wef 01.06.2015) 30000 / 75000 2 1 20
194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN (wef 01.06.2015) 20
194D – Insurance Commission 15000 5 5 20
194DA Payment in respect of life insurance policy(applicable from 01.1.2014) 100000 1 1 20
194E – Payment to Non-Resident Sportsmen or Sports Association 10 10 20
194EE – Payments out of deposits under NSS 2500 20 20
194F – Repurchase Units by MFs 20 20 20
194G – Commission – Lottery 15000 5 5 20
194H – Commission / Brokerage 15000 5 5 20
194I – Rent – Land and Building – furniture – fittings 180000 10 10 20
194I – Rent – Plant / Machinery / equipment 180000 2 2 20
194IA -Transfer of certain immovable property other than agriculture land (w.e.f 1-6-2013) 5000000 1 1 20
194J – Professional Fees 30000 10 10 20
194LA – Immovable Property 250000 10 10 20
194LB – Income by way of interest from infrastructure debt fund (non-resident) 5 5 20
194LB – Income by way of interest from infrastructure debt fund (non-resident) 5 5 20
Sec 194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012) 5 5 20
194LD – Interest on certain bonds and govt. Securities(from 01-06-2013) 5 5 20
196B – Income from units 10 10 20
196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) 10 10 20
196D – Income of FIIs from securities 20 20 20

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

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