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  1. 2. <ul><li>WHAT IS TDS </li></ul><ul><li>Definition </li></ul><ul><li> SEC 192  TDS on Salary </li></ul><ul><li> SEC 193  TDS on Interest on Securities </li></ul><ul><li>SEC 194  TDS on Dividend </li></ul><ul><li>SEC 194 A  TDS on Interest other than Securities </li></ul><ul><li> SEC 194B  TDS on Winning from Lottery, Cross word Puzzle, etc </li></ul><ul><li>SEC 194C  TDS on Contracts </li></ul><ul><li>SEC 194D  TDS on Insurance Commission </li></ul>
  2. 3. <ul><li>SEC 194G  TDS on Commission on Sale of Lottery tickets </li></ul><ul><li>SEC 194I  TDS on Rent </li></ul><ul><li>SEC 194J  TDS on Professional fee </li></ul><ul><li>SEC 194LA  TDS on Compensation on certain Immovable properties </li></ul><ul><li>SEC 194E  TDS on Non-Resident Sportsman </li></ul><ul><li> SEC 195  TDS on Payments to Non Residents </li></ul><ul><li>Due date for remittance of TDS and Filling returns . </li></ul><ul><li> SEC 191  Assessee in default </li></ul><ul><li>SEC 220  Interest on TDS </li></ul><ul><li>Sec 274C  Penalty </li></ul><ul><li> TCS </li></ul>
  3. 5. NEXT
  4. 6. <ul><li>Certain Expenditure </li></ul><ul><li>Paid to Certain Person </li></ul><ul><li>Beyond Certain Limit </li></ul><ul><li>In a specific period </li></ul><ul><li>is subjected to TDS </li></ul><ul><li>NEXT </li></ul>
  5. 7. <ul><li>Applicable to  Employees having Taxable Salary </li></ul><ul><li>The liability to deduct TDS on Salaries is on Payment basis but not on due basis. </li></ul><ul><li>Consider All Income/Loss only from House Property </li></ul><ul><li>NEXT </li></ul>
  6. 8. <ul><li>Person Responsible to Deduct : Central & State Government, Local authority , Company etc., </li></ul><ul><li>To Payee: Any Person being resident </li></ul><ul><li>Rate: Tax Rate. </li></ul><ul><ul><li>Listed Debentures  10% + 10% + 3% </li></ul></ul><ul><ul><li>Non-Listed Debentures  20% + 10% + 3% </li></ul></ul><ul><ul><li>Domestic Company  20% + 10% + 3% </li></ul></ul><ul><li>Exemption: </li></ul><ul><ul><li>Dematerialized listed Securities </li></ul></ul><ul><ul><li>Issued by company where in public are substantially interested </li></ul></ul><ul><ul><li>Amount does not exceed Rs.2500/- </li></ul></ul><ul><li>Time of Deduction: Credit (or) Payment which ever is earlier </li></ul><ul><li>NEXT </li></ul>
  7. 9. <ul><li>Applicable to: Indian Company (or) Company which pays dividend as u/s 2(22)(e) </li></ul><ul><li>Exemptions: </li></ul><ul><ul><li>Dividend tax paid u/s 115-O </li></ul></ul><ul><ul><li>Dividend paid which is less than 2,500/- </li></ul></ul><ul><li>Time of Deduction: At the time of making payment. </li></ul><ul><li>Time of Deposit: With in 7 days. </li></ul><ul><li>NEXT </li></ul>
  8. 10. <ul><li>Applicable to: </li></ul><ul><ul><li>All Assesses other than Individual, HUF whose accounts are not subjected to Tax Audit. </li></ul></ul><ul><ul><li>Amount paid to Resident </li></ul></ul><ul><li>Rate: Tax Rates. </li></ul><ul><ul><li>Paid to Non Corporate Assessee  10% + 10% +3% </li></ul></ul><ul><ul><li>Paid to Corporate Assessee  20% + 10% +3% </li></ul></ul>
  9. 11. <ul><li>No TDS: </li></ul><ul><ul><li>Up to Rs.10,000/- if paid by </li></ul></ul><ul><ul><ul><li>Banking Company </li></ul></ul></ul><ul><ul><ul><li>Corporative Society engaged in banking business </li></ul></ul></ul><ul><ul><ul><li>Senior Citizen in savings scheme </li></ul></ul></ul><ul><ul><li>In other Cases up to Rs.5000/- </li></ul></ul><ul><li>Time: Credit (or) Payment which ever is earlier </li></ul><ul><li>NEXT </li></ul>
  10. 12. Person Responsible to Deduct: Any person paying the sum by way of Winning Lottery, Cross Word, Puzzles, Card Games. Category of Payee : Applicable to all Assesses. Rate of deduction : 30% + 10% + 3%. Limit : Each payment exceeding Rs.5,000/- Time of Deduction : Before realizing the Prize. NEXT
  11. 13. <ul><li>Person Responsible to Deduct Tax: Any ‘SPECIFIC PERSON’ other Individual, HUF who not subject to Tax Audit. </li></ul><ul><li>Category of Payee: Resident assesses. </li></ul><ul><li>Rate of Deduction: </li></ul><ul><ul><li>Advertisement  1% </li></ul></ul><ul><ul><li>Contractor  2% + 10% + 3% </li></ul></ul><ul><ul><li>Sub-contractors  1% + 10% + 3% </li></ul></ul><ul><li>No TDS: </li></ul><ul><ul><li>Single payment is less than Rs.20,000/- </li></ul></ul><ul><ul><li>Sum Aggregate paid in financial year is less than Rs.50,000/ - </li></ul></ul>
  12. 14. <ul><ul><li>The term ‘WORK’ includes Advertising, Broadcasting, Telecasting including Production of programs from such Broadcasting and Telecasting. </li></ul></ul><ul><ul><li>Service contract means services other than those specifically covered in 194J. </li></ul></ul><ul><ul><li>Material Contract  where principal contract is for work and labour but not for sale of material. </li></ul></ul><ul><ul><li>Catering contract. </li></ul></ul><ul><ul><li>Transport contract for goods carriage other than Railways. </li></ul></ul>
  13. 15. <ul><ul><li>Contract for Hiring or Renting Equipments. </li></ul></ul><ul><ul><li>Sale of Goods. </li></ul></ul><ul><ul><li>Works executed under National Rural Employment Program. </li></ul></ul><ul><ul><li>Payment to Airlines or Travel Agents. </li></ul></ul><ul><ul><li>Small Transporters. </li></ul></ul><ul><ul><li>TDS is on Gross amount inclusive of Service Tax. </li></ul></ul><ul><ul><li>NEXT </li></ul></ul>
  14. 16. <ul><li>Person Responsible for Deduction: Insurance Company. </li></ul><ul><li>Category of Payee : Resident assessee. </li></ul><ul><li>Rate: </li></ul><ul><ul><li>Non-corporate Assessee  10% + 10% +3% </li></ul></ul><ul><ul><li>Domestic Company  20% + 10% + 3% </li></ul></ul><ul><li>Exemption Limit: Aggregate amount exceeding Rs.5,000/- </li></ul><ul><li>NEXT </li></ul>
  15. 17. Person Responsible for Deduction: Any Person Rate : 10% + 10% + 3%. No TDS : If the Amount paid is Less than Rs.1,000. NEXT
  16. 18. <ul><li>Person Responsible for Deduction: All Assessee except Individual, HUF who are not subjected to Tax Audit </li></ul><ul><li>Category of Payee: Resident assessee. </li></ul><ul><li>Rate: </li></ul><ul><ul><li>If payee is an Individual, HUF  15% + 10% +3% </li></ul></ul><ul><ul><li>In other case  20% +10% +3% </li></ul></ul><ul><ul><li>Machinery (or) Plant  10% + 10% + 3% </li></ul></ul><ul><li>No TDS: </li></ul><ul><ul><li>Aggregate amount of Rent paid (or) credited does not exceed Rs.1,20,000. </li></ul></ul><ul><ul><li>The Payee is Government (or) Local Authority. </li></ul></ul><ul><li>Time: Time of Credit (or) Payment which ever is earlier. </li></ul><ul><li>NEXT </li></ul>
  17. 19. <ul><li>Person Responsible for Deduction: All assessee except Individual, HUF who are not subjected to Tax Audit. </li></ul><ul><li>Category of Payee: Resident assessee. </li></ul><ul><li>Payment: </li></ul><ul><ul><li>Fee Professional Services </li></ul></ul><ul><ul><li>Fee Technical Services </li></ul></ul><ul><ul><li>Fee Royalty </li></ul></ul><ul><ul><li>Payment Refund U/s 28(1)(Va) </li></ul></ul><ul><li>Rate: 10% + 10% + 3% </li></ul><ul><li>No TDS: </li></ul><ul><ul><li>Aggregate payment does not exceed Rs.20,000/- </li></ul></ul><ul><ul><li>Reimbursement of Actual expenses to be included in Professional charges </li></ul></ul><ul><ul><li>TDS is on Gross amount inclusive of Service Tax. </li></ul></ul><ul><ul><li>NEXT </li></ul></ul>
  18. 20. Nature of Payment: Paying compensation (or) enhance compensation, consideration on account of compulsory Acquisition under any law other than Agricultural Land. Category of Payee : Resident assesses. Rate : 10% + 10% + 3%. NEXT
  19. 21. <ul><li>Category of Payee: Income to a Non-Resident foreign citizen by way of </li></ul><ul><ul><li>Participating in India in any game other than card game, gambling. </li></ul></ul><ul><ul><li>Advertisement. </li></ul></ul><ul><ul><li>Contribution of articles relating to any game or sport in India in Newspapers, Magazines, Journals </li></ul></ul><ul><li>Rate: 10% + 10% +3% </li></ul><ul><li>NEXT </li></ul>NON - RESIDENTS
  20. 22. <ul><li>Payment for which TDS is to be deducted: </li></ul><ul><ul><li>Any Interest and Interest on Securities </li></ul></ul><ul><ul><li>Any other sum chargeable to Income Tax in India not </li></ul></ul><ul><ul><li>being Salary. </li></ul></ul><ul><li>Time: At time of Credit (or) Payment which ever is earlier </li></ul><ul><li>Quarter Return: Form 27Q is filed with in 15 days from end of relevant quarter </li></ul><ul><li>Rates: Rate of Income Tax specified in </li></ul><ul><ul><li>Finance Act of relevant year. </li></ul></ul><ul><ul><li>Double Taxation Avoidance Agreement entered by Central Government. </li></ul></ul><ul><ul><li>Agreement notification by Central Government. </li></ul></ul><ul><ul><li>NEXT </li></ul></ul>
  21. 23. <ul><li>In case of deduction by or on behalf of the government  payment on the same day. </li></ul><ul><li>If the amount is credited on the last day of the accounting year  payment within 2 months from the end of the month in which it is credited. </li></ul><ul><li>In other cases  within 1week from the last day of the month of tax deducted. </li></ul><ul><li>Filling Quarterly Statements. </li></ul><ul><li>Quarter Due date </li></ul><ul><li>30 th June  15 th July. </li></ul><ul><li>30 th Sep  15 th Oct. </li></ul><ul><li>31 st Dec  15 th Jan. </li></ul><ul><li>31 st March  15 th June. </li></ul>
  22. 24. <ul><li>The person is said to be default in respect of following non- compliance: </li></ul><ul><li>Non/short deduction of tax at source. </li></ul><ul><li>Non/Short payment of tax payable. </li></ul><ul><li>NEXT </li></ul>
  23. 25. <ul><li>The person responsible for Tax Deduction at Source shall be deemed to be assessee in default and liable to pay interest if he: </li></ul><ul><ul><li>Does not deduct the whole (or) Part of Tax. </li></ul></ul><ul><ul><li>Fails to Remit to Government. </li></ul></ul><ul><li>Rate: 1% for every month or Part of a month. </li></ul><ul><li>Period: From date of deduction to the date of actual payment. </li></ul>
  24. 26. TDS and amount of Interest shall be charge up on all the assets of the person or company responsible to deduct and remit tax
  25. 27. <ul><li>In Case of Non-Resident: </li></ul><ul><ul><li>Interest </li></ul></ul><ul><ul><li>Royalty </li></ul></ul><ul><ul><li>Fee for Technical Services </li></ul></ul><ul><ul><li>Other wise similar sum payable to outside India (or) Non-Resident </li></ul></ul><ul><li>In Case of Resident </li></ul><ul><ul><li>Interest </li></ul></ul><ul><ul><li>Commission </li></ul></ul><ul><ul><li>Brokerage </li></ul></ul><ul><ul><li>Rent </li></ul></ul><ul><ul><li>Royalty </li></ul></ul><ul><ul><li>Fee for Professional / Technical services Payable to Resident </li></ul></ul><ul><li>END </li></ul>
  26. 28. It is the responsibility of the receiver of Payment i.e., seller of a particular commodities to collect from Buyer (Payer). NEXT