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
I am running a proprietorship firm in Rajkot, Gujarat and paying a rent of rs.35000/- per month for a godown. Am i applicable for deducting TDS on Rent. Kindly suggest.