• Mar
  • 13
  • 2012

Tds / TCS Rates for FY 2011-12 / AY 2012-13

Article ID 43670 | Posted In Income Tax | , , | 72 Comments » Print Friendly and PDF

Tds and TCS Rates for financial year 2011-12 and assessment year 2012-13

TDS Rates for financial year 2011-12 and assessment year 2012-13

The Rate Chart for the Financial Year 2011-12 i.e. Assessment Year 2012-13 is tabulated below. TDS Rates for the Financial Year 2010-11 is also same.

TDS RATE CHART FINANCIAL YEAR 2011-12 (ASSESSMENT YEAR 12-13)

Sl. No. Section Of Act Nature of Payment in brief Cut Off Amount Rate %
30.06.2010 01.07.2010 HUF/IND Others
1 192 Salaries Salary income must be more then exemption limit after deductions. Average Rate
2 193 Interest on Securities 10 10
3 194 Deemed dividend 10 10
4 194A Interest other than Int on securities (by Bank) 10000 10000 10 10
4A 194A Interest other than Int. on securities (By others) 5000 5000 10 10
5 194B Lottery / Cross Word Puzzle 5000 10000 30 30
6 194BB Winnings from Horse Race 2500 5000 30 30
7 194C(1) Contracts Rs. 50000 for the Whole Year and Rs. 20000/-if a single bill or contract amount exceeds Rs. 20000/- Rs. 75000 for the Whole Year and Rs. 30000/-if a single bill or contract amount exceeds Rs. 30000/- 1 2
8 194C(2) Sub-contracts/ Advertisements Rs. 50000 for the Whole Year and Rs. 20000/-if a single bill or contract amount exceeds Rs. 20000/- Rs. 75000 for the Whole Year and Rs. 30000/-if a single bill or contract amount exceeds Rs. 30000/- 1 2
9 194D Insurance Commission 5000 20000 10 10
10 194EE Payments out of deposits under NSS 2500 2500 20
11 194F Repurchase of units by MF/UTI 1000 1000 20 20
12 194G Commission on sale of lottery tickets 1000 1000 10 10
13 194H Commission or Brokerage 2500 5000 10 10
14 194I Rent (Land & building) 120000 180000 10 10
Rent (P & M , Equipment, furniture & fittings) 120000 180000 2 2
15 194J Professional/Technical charges/Royalty & Non-compete fees 20000 30000 10 10
16 194LA Compensation on acquisition of immovable property 100000 100000 10 10

TCS Rates for the FY 2011-12

The Tax Collection at Source Rates for the Financial Year 2011-12 is tabulated below:

Sl.No. Nature of Goods Rates in %
1. Alcoholic liquor for human Consumption 1
2. Tendu leaves 5
3. Timber obtained under forest lease 2.5
4. Timber obtained by any mode other than a forest lease 2.5
5. Any other forest produce not being timber or tendu leaves 2.5
6. Scrap 1
7. Parking lot 2
8. Toll plaza 2
9. Mining & Quarrying 2

No Education 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.

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

Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are

Sl. No. Date of ending of the quarter of the financial year Due date
1. 30th June 15th July of the financial year
2. 30th September 15th October of the financial year
3. 31st December 15th January of the financial year
4. 31st March 15th May of the financial year immediately following the financial year in which deduction is made

Due date for furnishing TDS certificate to the employee or deductee or payee is revised as under :

Sl. No. Category Periodicity of furnishing TDS certificate Due date
1. Salary       (Form No.16) Annual By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted
2. Non-Salary(Form No.16A) Quarterly Within fifteen days from the due date for furnishing the ‘statement of TDS’

Due Date for Payment of March 2011 –The time limit for deposit of TDS for the entire month of March is rationalized to 30 April instead of two separate time limits viz. 7 April for TDS up to 30 March and 31 May for TDS as of 31 March.


  • cia

    if Rent is Rs. 178560/- and service tax is Rs. 22,070 (12.36%)

    Total Rs. 200,630.

    Is tds applicable as TDS to be deducted before serice tax amount.

  • Shivanand M K

    we loan taken other than bank (Finanace Co.)for school bus purchased and loan and interest regullarly payment, my problem is tds applicable or not under section tds 194A

  • Parusuram Yadav

    Useful of Income tax

  • Umesh Patel

    Is it applicable TCS on Scrap Sales in Gujarat ?

    What id the rate ?

  • PAVANI

    AN AMOUNT OF RS.100000 PAID TO A CONTRACTOR FOR CONTRACT WORKS OF OUR OFFICE DONE BY HIM. HE HAS NO PAN NUMBER WHAT TDS RATE CHARGED?

    • http://taxguru.in CA Sandeep Kanoi

      20%

  • amit

    IS there any notification for non deduction of tds of senior citizens for A.Y. 2012-13

  • PRIYANKA

    Dear sir,
    Tds Ret. fill & short interest so now default status ok so now 11-9-12 fill short interest paid how to fill interest in deductee ? pl help me !

  • Rohit Gupta

    Dear Sir,

    I just wanted to know, Is TDS applicable on Freight & Transport, if yes than in what condition? Please let me know, i am lil confuse about that….

    With Best Regards

    Rohit Gupta

  • dipak

    hello sir,
    I am working in petrol pump i asked for you what is the rate of diesel commission and how many paid tds?

  • Manish Balani

    If partner has given loan to firm then whether TDS on Interest on loan needs to be deducted or not

  • Sushma kalote

    we have deducted 1% TDS as we were in impression of Proprietary concern.
    But in actual it is partnership firm so tds rate applicable is 2% u/s 194C . and yesterday we file the return to NSDL. Now how to solve the problem. Pls Guide.

  • nima saraiya

    i am local guide in (junagadh )gujarat. now he is geeting r approx approx rs 50000 to 90000 per year. from different agencis . but one of the agency asking for tds diduction…..so plesae advise is it ok ? as i don`t have other income ….

  • Baidyanath Dutta

    Construction Service

    Service tax on Car parking space or not

  • Aarti

    Whether TDS is to be deducted on a contractual payments for example a contract with a telephone company for a fix amount for providing telephone or lease line ??? Bill received from a telephone company is base amount  + service Tax @ 12.36% on it.

  • Santosh soni

    Plz , u hav to more clear about the concept relating to subsection 1& 2 of section 194C

  • vinayak

    i have to give incentive to marketing executive of Rs. 39000/- so can i deduct TDS on it?

  • rohit

    i have not deducted TDS u/s 194c of a particular party because i was not expecting the expenses for that particular party to exceed 75,000/- in the FY 2011-12 , however the limit exceeded in january 2011. Assuming it reached 80,000/- ( Total Amount ) , for which i have paid the tax on 80,000/- on 7th february 2011 , will i be liable to pay interest u/s 201 ?

  • Brijesh Kumar

    Hi
    i want to know TDS Cerficate to issued to dedctee yearly or quaterly actually i have dedct tds payment on commission under rate of 10% please give me advise as per rules.

  • radha

    how we can revise tds return if TDS wrongly paid in earlier year instead of current year

  • Deepali Bhatkalkar

    If i have done tds on provision for 31st Mar and the same amount of paid on 30th april and if the bill is received for the service rendered for May whether we can adjust the provision booked for Mar

  • RP UPADHYAY

    We are doing Mining of Dolomite Mineral and TCS is deducted from our Royalty, We are not cunsuming Dolomite not selling in open market, Does TCS is Should be deducted from our Royalty.

  • Arun Kumar

    If no tds on other than salary is recovered in a quarter , then whether filing of Quarterly report in Form 26Q by DDO has to be made.

  • sanjay kumar sen

    Sir 
     What is the limit of TDS under 194c .? If  i take service from service provider in a year Rs. 2 lacs and more . how much tds deducted from him. Please clear the calculation. 

  • Jignesh Shah

    Can TDS Levied on Interest Paid on Loan from Indiabulls & Kotak Mahindra Prime Ltd. ?

  • DILIP

    While making online payment of tds their was a mistake in nature of payment & also in amt.
    by mistake  entire amt.is paid under one section i.e 194I. it should go partly in 94I & partly in 94C.
    how to make correction ?

  • Samaresh Ganguli

    For Fy 2011-12 Income Tax was assessed under the head Salary Income.Subsequently retired from service in Jan 2012(Slab rate 30%)). Joined as Consultant in March 2012 &received professional fees in April 12 although TDS was deducted & deposited in March 12 @ 10%.Under the circumstance please advise whether
    1).I have to show the said income in the Fy 2011-12 & pay the balance amount as Tax @ of 30%
    2).I can show the income of consultant in the F.Y 2012-13,since payment received in April 12(i.e on cash basis) and pay Tax @ of 10% thereby ignoring TDS in March12.
    3) Alternative option so that Tax is reduced to bear minimum if i have to show in my IT return for the FY 2011-12 under the head Salary Income or under any other head since March.
    I am a Cost Accountant & have have obtained CP since May 2012.
    Regards
    S.GANGULI

  • http://taxguru.in Arun Gupta

    I want to know that when i am paying the TDS for the month of April in the month of may at that time i have paid TDS for some bills for the month of may also. is there any problem arise. if yes than what type of problem

  • satyajit mukherjee

    Hi,

    great

  • rohit kumar

    sir, service tax portion include in gross amount .can we deducted TDs in gross amount

  • venkat

    sir can u please explain all TDS retes clearly.

    Regards,
    venkat….

  • pallavi dugar

    dear sir
    i would like to ask question for which i need an urgent soluntion

    whether TDS be deducted on gross bill or discounted bill?

  • g.s.ravi

    Can TDS be deducted on gross bill which includes service tax or do we need to deduct tds on actual service rendered without taking service tax ?

  • rakesh

    Dear Sir,

    I have read on your website on link http://taxguru.in/income-tax/tds-tcs-rates-financial-year-201112-assessment-year-201213.html about last date of TDS deposit as per detail given below but i think you have wrongly mentioned 31 May for TDS as of 31 March instead of 30 April, So Please confirm me.

    Due Date for Payment of March 2011 -The time limit for deposit of TDS for the entire month of March is rationalized to 30 April instead of two separate time limits viz. 7 April for TDS up to 30 March and 31 May for TDS as of 31 March.

  • Padma Nathan

    Hi,
    I am getting salary from section 194J.On that i 10% TDS.Is it possible to get return on 10% TDS.

    and one more Is required to submit proof while filling return.

    I am waiting reply from experts.Plz help me

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  • SANJAY PRAKASH CHAUHAN

    TCS CALCULATION FOR DEPOSIT

  • Sanjiv Wenorkar

    what are the revised rates of TDS under section 194I? what are the rules regarding deduction of it. in both situation with PAN and without PAN with deductee and income below taxable income. Is it compulsorily deduct the TDS or not 

  • D. P. Shrivastva

    TCS rate on Scrap is 1% if PAN is provided by buyer. What will be the rate if PAN is not provided by buyer?

  • CA Santosh Kumar

    Thanks

  • Rahul

    I AM A PROPRITOR WITH 85 LACS BUSSINESS. MY ACCOUNTS WAS AUDITED,
    I WAS PAID INTEREST ON UNSECURED LOAN WHICH IS GIVEN TO ME BY MY RELATIVE AS A AMOUNT OF 25000/- AGAINST FORM 15 G ISSUED BY HIM, SO I HAD NO DUDCTED TDS, NOW I WANT TO KNOW THAT WHAT TO DO THIS FORM 15 H, IS THIS FORM FILE WITH I. T. DEPARTMENT OR KEEP WITH ME

  • Preeti

    I have not received a March bill till April 30th. In may I have booked the expense in 2011-12. Can I make the tds entry in 2012-13 and make payment that year

  • praveen kr sharma

    1.what would be the rate of tax for commission of brokerage paid by company 
    2.if there is no pan no of the person to whom the payment is made what would be rate of tax on commission on brokerage 
    reply me on praveens350@gmail.com

  • Preeti

    Anyone knows What will be the expense Head for puchasing TDS Software for Rs. 2500/- How to treat it in accounts books? Can’t we count this expense under Books & Periodicals head?

  • Preeti

    Hi I am taking Mailbox Service for Official Mail courier and they are charging me Rs. 3490/- plus Service Tax per Month. Is this amount taxable ? what will be the rate of Deduction for TDS. 10% or normal 2% as annual amount wil not higher then Rs. 75000 annual limit for tax

  • Mr Shah

    i have not deducted TDS u/s 194c of a particular party because i was not expecting the expenses for that particular party to exceed 75,000/- in the FY 2010-11 , however the limit exceeded in january 2011. Assuming it reached 76,000/- ( Total Amount ) , for which i have paid the tax on 76,000/- on 7th february 2011 , will i be liable to pay interest u/s 201 ?

    Following details might help me explain my question in a better way
    the expenses have been booked in the following ways :

    09-04-2010 – Rs 13,000/-
    16-08-2010 – Rs 12,000/-
    24-09-2010 – Rs 18,000/-
    05-10-2010 – Rs 14,000/-
    08-12-2010 – Rs 17,000/-

    Total till now is Rs 74,000/-

    and in 

    21-01-2011 – Rs 4,000/-

    so total comes to Rs 78,000/- now i have deducted TDS u/s 194c @ 2% (assuming it to be a company) on Rs 78,000/- i.e Rs 1560 in january 2011 and deposited the same by 5th february 2011 .. will i be liable to pay interest u/s 201 ?

  • Madan Mohan Sharma

    Sir,
          Other websites shows exemption limit as “30000 per contract and 75000 p.a. in section 194C but your above table indicate only 30000” please reply me with description.

    Regards 

    • http://taxguru.in CA Sandeep Kanoi

      We have further clarified the limit to remove the confusion.

  • Navdeep

    Hi,
    i want to inquire about service tax applicability on Sub contractors for hiring drilling rigs in tube well and bore well drilling for water in this financial year 2012-2013

  • vicky agarwal

    sir i want to know the procedure for submission of form no.27c to the department. Please guide me about the submission of form 27c whether it should be submitted monthly or yearly or billwise and where to submit it

  • p n subrahmanyeswara rao

    what is taxes and tax

  • Amar

    Yearly Limit for tds of rent for financial year 2011-12

  • jitu soni

    what is depreciation,and what is service tax10% pls give the answer.

  • Laxmi Kant

    Dear Sir, tds on bank interest is 10%. Is it either on 10,000/- or above the 10,000/- ?

  • Ravi Varma

    Sir, We are working in corporate firm and doing construction works, where as one agency doing Route Survey for water line from public canal. whether we can recover TDS u/s 194 J? Pls advise if it or he will comes under 194C only as he is a sub-contractor to us.

  • RAJESH AGARWAL

    Pl. confirm due date of salry TDS (other than Govt employee) payment & TDS return (24Q)for the M/o March-2012 & TCS payment for the M/o March-2012

  • Uday

    Hi,
    We are paying to contractor 72000 in a FY, Monthly 5500*9,7500*3. As per last year exemption limit 75000(in a FY) 30000(Single Amount). But i did’t find exemption limit for a FY  in FY 2011-2012. Is it same for this year or not.

  • Ravi

    Hi,
    We are purchased Software licence from vendor,but we are paid to vendor full amount, my Customers is TDS @10% deducting and paying for us. How i can get it that TDS amount from my vendor, Suppose he is paying i need to pay again to the Govt. What is actual Processs.

  • Neeraj Singh

    In case of TDS on Contractors cutoff limit is 30000/- for single bill , but what about limit of total bills of a single party during the year whole financial year

  • prabir kumar kuila

    i want to know the amount of maximum deduction in deposit

  • RAMESH SAWANT

    It is helpful to me

  • Ashish Kumar Behera

    I want any notification, changes in rate of tds,tcs and any clearification than please be confirm on my mail id

  • m.ramachandran

    I have received a contractor inv. dt.01-12-2011 for the month of Nov.2011 which tds is applicable- here I want to clarify whether shall I book the bill 30-11-2011 and tds amount remit on or before 07-12-11 (or) option 2 – the same inv. shall I book 01-12-2011 and remit the tds on or beofore 07-12-11. please clarify the same.

    regards
    ramachandran.m

  • Nidhi

    Nice & Understandable

  • Pradeep

    how much percentage of TDS applicable on Bar coding of products

  • Pradeep

    how much TDS applicable on Bar coding of products

  • mayflower

    TDS rate Under Sec 194 C (2) Advertisement must be 1% for both huf/ind and Others.
    Kindly clarify.

  • PRABU

    SIR, THIS IS VERY USEFUL TO ALL ACCOUNTANTS AND FINANCIAL EXCE.
    TKS A LOT

  • Bibin

    Can some boby help me for the TDS % of Maintance…

  • KSC SHEKAR

    REALLY VERY NICE AND UNDERSTASNDABLE

  • PAWAN GOYAL

    rebate and deduction on housing loan : it not clear where the property is in name of wife and house loan is taken with husband as co borrower. the instalments are paid by husband. whether husband is entitled for interest rebate and principal deduction or not. where wife has no income.

    • Prabhu G D

      Husband and Wife one and the same as per Supreme Court, husband is entitled for interest and instalment for deduction