TDS RATE CHART FINANCIAL YEAR 2012-13 (ASSESSMENT YEAR 13-14)Sl.No.Section OfActNature of Paymentin briefCut Off Amount Rate %01.04.201201.07.2012 HUF/INDOthers1 192 Salaries Salary income must bemore then exemption limitafter deductions.Average Rate2 193Interest ondebentures2500 5000 10 103 194 Deemed dividend - - 10 104 194A Interest other than Inton securities (byBank)10000 10000 10 104A 194A Interest other than Int.on securities (Byothers)5000 5000 10 105 194B Lottery / Cross WordPuzzle10000 10000 30 306 194BB Winnings from HorseRace5000 5000 30 307 194C(1) Contracts 30000 30000 1 28 194C(2) Sub-contracts/Advertisements30000 30000 1 29 194D InsuranceCommission20000 20000 10 1010 194EE Paymentsout ofdeposits under NSS2500 2500 20 -11 194F Repurchase of unitsby MF/UTI1000 1000 20 2012 194G Commission on saleof lottery tickets1000 1000 10 1013 194H Commission orBrokerage5000 5000 10 1014 194I Rent (Land &building)180000 180000 10 10Rent (P & M ,Equipment, furniture& fittings)180000 180000 2 215 194J Professional/Technicalcharges/Royalty &Non-compete fees30000 30000 10 1016 194J(1)(ba) Any remuneration orcommission paid toNA NIL 10 10
director of thecompany(Effectivefrom 1 July 2012)17 194LA Compensation onacquisition ofimmovable property100000 200000 10 1018 194LLA Payment on transferof certain immovableproperty other thanagricultural land(applicable only ifamount exceeds : (a)INR 50 lakhs in casesuch property issituated in a specifiedurban agglomeration;or(b) INR 20 lakhs incase such property issituated in any otherarea) (Effective from1 October 2012)NA (a) INR 50lakhs in casesuch propertyis situated in aspecifiedurbanagglomeration;or(b) INR 20lakhs in casesuch propertyis situated inany other area)(Effectivefrom 1October2012)1 1TCS Rates for the FY 2012-13The Tax Collection at Source Rates for the Financial Year 2013-13 is tabulated below:Sl.No. Nature of GoodsRates in %01.04.2012 01.07.20121. Alcoholic liquor for human Consumption 1 12. Tendu leaves 5 53. Timber obtained under forest lease 2.5 2.54.Timber obtained by any mode other than aforest lease2.5 2.55.Any other forest produce not being timber ortendu leaves2.5 2.56. Scrap 1 17. Parking lot 2 28. Toll plaza 2 29. Mining & Quarrying 2 210 Minerals, being coal or lignite or iron ore NA 111Bullion or jewellery (if the sale considerationis paid in cash exceeding INR 2 lakhs)NA1
No Education Cess on payment made to resident-Education Cess is not deductible/collectibleat source in case of resident Individual/HUF /Firm/ AOP/ BOI/ Domestic Company in respect ofpayment of income other than salary. Education Cess @ 2% plus secondary & Higher EducationCess @ 1% is deductible at source in case of non-residents and foreign company.Surcharge on Income-tax - Surcharge on Income-tax is not deductible/collectible at source incase of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of incomeother than salary.Due date for furnishing TDS return for the last quarter of the financial year has been modified to15thMay (from earlier 15thJune). The revised due dates for furnishing TDS return areSl.No.Date of ending of the quarterof the financial yearDue date1. 30thJune 15thJuly of the financial year2. 30thSeptember 15thOctober of the financial year3. 31stDecember 15thJanuary of the financial year4. 31stMarch 15th May of the financial year immediatelyfollowing the financial year in whichdeduction is madeDue date for furnishing TDS certificate to the employee or deductee or payee is revised as under:Sl.No.CategoryPeriodicity offurnishing TDScertificateDue date1. Salary (FormNo.16)Annual By 31stday of May of the financial yearimmediately following the financialyear in which the income was paid andtax deducted2. Non-Salary(FormNo.16A)Quarterly Within fifteen days from the due datefor furnishing the ‘statement of TDS’Due Date for Payment of March 2012 -The time limit for deposit of TDS for the entire monthof March is rationalized to 30 April instead of two separate time limits viz. 7 April for TDS up to30 March and 31 May for TDS as of 31 March.