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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

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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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TDS and TCS Rates Chart for F.Y. 2015-16

The TDS and TCS rates chart for the financial year 2015-16 has been given below:

TDS rates for F.Y. 2015-16 

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) 30000 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 5000 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. 75000 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 20000 10 10 20
194DA Payment in respect of life insurance policy(applicable from 01.1.2014) 100000 2 2 20
194E – Payment to Non-Resident Sportsmen or Sports Association 20 20 20
194EE – Payments out of deposits under NSS 2500 20 20
194F – Repurchase Units by MFs 20 20 20
194G – Commission – Lottery 1000 10 10 20
194H – Commission / Brokerage 5000 10 10 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 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

Note:

1. No TDS on service Tax :As per circular 01/2014 dated 13.01.2014 TDS is not applicable on service tax part if service tax is shown separately.

2. TDS at higher rate ie., 20% has to be deducted if the deductee does not provide PAN to the deductor.(read detail u/s 206AA)

3. No TDS on Goods Transport  :No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages on furnishing of his Permanent Account Number, to the person paying or crediting such sum.(read details here No TDS on Goods Transport )up to 31.05.2015.

4. TDS on Good Transport wef 01.06.2015 : TDS shall be applicable on payment to transporter  wef 01.06.2015 .However tds exemption will be available only to those transporters

  • who own ten or less goods carriages at any time during the previous year.
  • such a transporter would also need to furnish a declaration to that effect to the payer along with the PAN.

5. Surcharge on tax is not deductible/collectible at source in case of  resident individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.

6. Surcharge on TDS is applicable on payment made to non resident other than company ,if payment is in excess of one crore.(12 %)

7. Surcharge on TDS on salary is applicable if taxable salary is more than one crore @ 12 %

8. In the case of Company other than Domestic Company,

 (i) at the rate of two per cent. of such tax, where the amount or the aggregate of such amounts collected and subject to the collection exceeds one crore rupees but does not exceed ten crore rupees;

 (ii) at the rate of five per cent. of such tax, where the amount or the aggregate of such amounts collected and subject to the collection exceeds ten crore rupees.

9. No Cess on payment made to resident: Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.

TCS rates for F. Y. 2015-16

Section

Nature of Payment

 

F. Y. 2015-16

Individual / HUF

Other

206C Scrap 1 1
206C Tendu Leaves 5 5
206C Timber obtained under a forest lease or other mode 2.5 2.5
206C Any other forest produce not being a timber or tendu leave 2.5 2.5
206C Alcoholic Liquor for human consumption 1 1
206C Parking Lot, toll plaza, mining and quarrying 2 2
206C

Minerals, being coal or lignite or iron ore (applicable from July 1, 2012)

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

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: 2016-17, Click here

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