TDS Chart

Sec. Appli- Nature of Exemption and Rate of Procedure for Annual TDS
cable Payments Limit Deduction Nil / Lower Return / Certificate
Rules (Financial year Deduction Statement Form No./Due
1999-2000) Form No./Due Date.
Date
192 21A, Salary to any person Rs.50,000 after As applicable to Employee to F.24 F.16
21AA, considering deduction u/ss. individual Sch-1, apply in F. 13 to 31st May. Within 1 month
26A, 16, 80D, 80DD, 80RRA & Part III of the the A.O. to obtain from the close of
26B, rebate u/s. 88 & loss under Finance Act, 2000 certificate in F. financial year.
28, head 'Income from House as increased by 15AA.
28AA, Property' surcharge of
33 10%/15% as
applicable.
193 28, Interest on Securities to a) Rs.2,500 for interest on Co. 22% 1. If F. 15H is F.25 F.16A
28AA, any person debentures paid by a furnished by a 30th June 1. If income is
29C, widely held company (to a Other than Co. person other than credited on the
37A resident individual). 11% a company or a date on which
b) Interest on any State or firm. accounts are made
Central Government 2. Payee to apply by the payer
Security in F. 13 to the within 1 week
A.O. to obtain after expiry of 2
certificate in F. months from the
15AA. mth in which
income is credited.

2. Any other case

— within 1 month
from end of month
of deduction.
194A 28, Interest (other than a) Rs.10,000 in case of Co. 22% 1. If F.15H is F.26 A F.16A
28AA, Interest on Securities) to bank interest & deposit furnished by a 30th June As per S.193
29C. resident with housing finance Other than Co. person other than above.
companies, Rs.2,500 in all 11% a company or a
other cases. firm.
b) Individual or HUF not 2. Payee to apply
required to deduct tax. in F.13 to the
c) No deduction required A.O. to obtain
for following payments : certificate in
i) Firm to partner F.15AA.
ii) On deposits with
bank made before
1.7.1995
iii) Co-operative Society
to member or other
co-operative society
iv) Central Govt. to
assessees
194B - Winnings from lottery & Rs.5,000 44% Not permissible F.26B F.16A
crossword puzzles to any 31st May As per S.194
 person ( Including
winning in kind) Foreign
Cos.
194BB - Winnings from horse Rs.2,500 As above Not permissible F.26BB F.16A
races to any person 31st May. As per S.194
194C(1) 28, Payment to Resident Rs.20,000 per contract a) Advt. contract- If Certificate is F.26C F.16 A
28AA Contractors by 1.1% obtained from the 30th June As per S.193
1. Central or State Govt. b)Other contract- A.O. for lower above
or 2.2% deduction.
2. Local Authority or
3. Corporation or Payee to apply in
4. Company or F.13C to the A.O.
5. Co-op. Society. to obtain
6. Any authority for certificate in
housing accommodation appropriate form.
etc.
7. Any society or
8. Trust or
9. University
10. Firm
194C(2) 28, Payment to resident sub- Rs.20,000 per contract 1.1% As above As above As above
28AA contractors (by above
Contractors)not being
individual / HUF
194D 28, Insurance commission to Rs.5000 Co.-22% Payee to apply in F.26D / 26E F.16A
28AA Resident F.13 to the A.O. 30th June As per S.193 or at
Any other person- to obtain the option of the
11% certificate in payee within 1
F.15AA. month from the
close of the
financial year.
194E 37A Payments to Non- N.A. 10% Not permissible F.27 Refer S.196 F.16A
resident sportsmen / below. As per S.193
sports association
194EE 29C Payments of deposits Payment to heirs exempt. 22% If written F.26F F.16A
under NSS to any person In any other case Rs.2,500 declaration in 30th June. As per S.194
F.15-I is given
194F - Payment to any person Not Applicable 22% Not permissible F.26G F.16A
on account of repurchase 30th June As per S.194
of units by Mutual Fund
/ UTI
194G 28, Commission / Rs.1000 11% Payee to apply in F.26H F.16
28AA Remuneration on sale of F.13D to the A.O. 30th June. As per S.193
lottery tickets to any to obtain above
person certificate in
appropriate form
194I 28, Rent paid to any person Rs.1,20,000 pa. Individual / HUF Payee to apply in F.26J F.16A
28AA for land, building or - 16.5% F.13 to the A.O. 30th June As per S.193
building along with Any other person to obtain above
furniture and fittings - 22% certificate in form
other than by an 15AA
individual / HUF
194J - Fees for professional Rs.20,000 pa. 5.5% Payee to apply in F.26K F.16A
 services or for technical F.13E to obtain 30th June As above
services. certificate in
appropriate form
194K - Income in respect of 1. Rs. 10,000 per scheme Co. - 22% 1. F.15H is F.26 F.16A
units of a mutual fund / per branch. Other than Co. furnished by a 30th April As per S.194
UTI. 2. Income exempt u/ss.11, 16.5% person other than above
(No deduction after 12, 10(22), (22A), (23), a company or
1.6.1999) (23AA), (23C). firm
3. Notified schemes. 2. Payee to apply
in F.13 to AO to
obtain certificate
in F.15AA
194L - Compensation or Rs.1,00,000 p.a. 11% Payee to apply in * *
Consideration on account F.13 to A.O. to
of compulsory obtain certificate
acquisition of any in F.15AA.
Capital Assset.
(No deduction after
1.6.2000)
195 29B, Interest or other sums -- As per double 1. Payee to apply F.27 F.16A
37A paid to Non-Resident taxation in F.15C/15D to Within 14 days As per S.193
(int. on securities and avoidance treaty the A.O. to obtain from the end of above
salaries excluded). or as per part II of cert. in F.15E. quarter in which
Sch. I to the 2. Payer may deduction made.
Finance Act, 2000 apply to the A.O.
whichever is to determine
beneficial to the income
assessee. component in
payment for
lower deduction.
* to be notified

Notes :
The rates of deduction in this chart is inclusive of surcharge of 10%. However, in the case of a payee other than company,
firm, co-op. society: if the total income of the payee exceeds Rs. 1,50,000/- surcharge is to be considered @15% and if
the total income of the payee does not exceed Rs.60,000/-, surcharge will be nil.
Non-residents are also liable for surcharge. This column does not cover all the possibilities. Rules common for all
Sections are : Rules 26, 30, 31, 36, 36A, 37. Please refer Sch. I, Part II of the Finance Act, 2000 for more details.

1. Time Schedule:
Nature of Payment Salary Dividend Other than Salary & Dividend
Time of Deduction At the time of payment of Before making payment to When income paid or credited to the account including to
Salary a shareholder interest "payable" or "suspense" a/c. whichever is earlier
Time of deposit of tax Within one week from the Within one week from the a) If credited on the date on which accounts are made, within
(Other than on behalf of date of deduction date of deduction two months from the end of the month in which income is
Govt.) credited.
b) Any other case, within one week from the end of the month in
which deduction is made.
Other Misc. ref./statements - F.27 -
 2. Copies of Form Nos. 15G and 15H received by the payer have to be filed with the Chief
Commissioner/Commissioner within 7 days of the succeeding month.
3. If the person responsible for deducting and paying tax fails to do so, he shall be considered as an assessee in
default, liable to pay interest @ 18% on the amount of such tax from the date on which such tax was deductible to
the date of actual payment, and penalty, not exceeding the amount of tax and rigorous imprisonment ranging from
3 months to 7 years and fine.
4. Also, please refer Notification No. 50 148(E) dated 28.2.1991. Issue of consolidated certificate is also now
permitted (See Notification dated. 2.7.1996)
5. S. 199 - Credit for tax deducted :
a. Credit will be given for the assessment year in which such income is assessable.
b. Where such income is assessable in the hands of any other person, credit shall be given to
such other person.
c. When any security, property etc. is jointly owned by two or more persons not constituting
partnership, credit for TDS on income therefrom shall be given to such persons in the
proportion in which the income is distributed.
6. TDS returns can now be filed (optional) on a computer media (see rule 37B and Form 27A)