TDS Rates for financial year (FY) 2012-13 and assessment year (AY) 2013-14

The Rate Chart for the Financial Year 2012-13 i.e. Assessment Year 2013-14 is tabulated below.

Posts Related to Below Given Amended Chart:-

Threshold for TDS on payment of interest on debentures

Section 194J of the Act – Tax deduction at source from payment to director

Section 194LA of the Act- Exemption on enhanced compensation

Section 194LAA- Tax deduction at source from payment for immovable property in certain cases

Budget 2012 – TCS on sale of Coal, Lignite, Iron ore

Budget 2012 – TCS on cash sale of bullion and jewellery

TDS RATE CHART FINANCIAL YEAR 2012-13 (ASSESSMENT YEAR 13-14)

Sl. No.Section Of ActNature of Payment in briefCut Off AmountRate %
01.04.201201.07.2012HUF/INDOthers
1192SalariesSalary income must be more then exemption limit after deductions.Average Rate
2193Interest on debentures250050001010
3194Deemed dividend1010
4194AInterest other than Int on securities (by Bank)10000100001010
4A194AInterest other than Int. on securities (By others)500050001010
5194BLottery / Cross Word Puzzle10000100003030
6194BBWinnings from Horse Race500050003030
7194C(1)Contracts300003000012
8194C(2)Sub-contracts/ Advertisements300003000012
9194DInsurance Commission20000200001010
10194EEPaymentsout of deposits under NSS2500250020
11194FRepurchase of units by MF/UTI100010002020
12194GCommission on sale of lottery tickets100010001010
13194HCommission or Brokerage500050001010
14194IRent (Land & building)1800001800001010
Rent (P & M , Equipment, furniture & fittings)18000018000022
15194JProfessional/Technical charges/Royalty & Non-compete fees30000300001010
16194J(1)(ba) Any remuneration or commission paid to director of the company(Effective from 1 July 2012)NANIL1010
17194LACompensation on acquisition of immovable property1000002000001010
18194LLAPayment on transfer of certain immovable property other than agricultural land (applicable only if amount exceeds : (a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)NA (a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)11

TCS Rates for the FY 2012-13

The Tax Collection at Source Rates for the Financial Year 2013-13 is tabulated below:

Sl.No.Nature of Goods Rates in %
01.04.201201.07.2012
1.Alcoholic liquor for human Consumption11
2.Tendu leaves55
3.Timber obtained under forest lease2.52.5
4.Timber obtained by any mode other than a forest lease2.52.5
5.Any other forest produce not being timber or tendu leaves2.52.5
6.Scrap11
7.Parking lot22
8.Toll plaza22
9.Mining & Quarrying22
10Minerals, being coal or lignite or iron ore NA 1
11Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 2 lakhs) NA 1

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 yearDue date
1.30th June15th July of the financial year
2.30th September15th October of the financial year
3.31st December15th January of the financial year
4.31st March15th 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.CategoryPeriodicity of furnishing TDS certificateDue date
1.Salary       (Form No.16)AnnualBy 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)QuarterlyWithin fifteen days from the due date for furnishing the ‘statement of TDS’

Due Date for Payment of March 2013 –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.

(Republished with Amendments)

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2 responses to “TDS / TCS Rates for Financial Year 2012-13/ AY 2013 -14”

  1. prosad says:

    One person has taken a joint house Property loan with his wife, now he is working at outside of india.Wife is working, Can his wife taken deduction u/s 80c full amount of principal i.e 1.5 lac max paid as well as interest of House Loan i.e rs. 2.00 max paid

  2. prosad says:

    is the tds applicable on service tax f.y. 2012-13

  3. M. L agrawal says:

    Pl. Give me information of t d s on transport freight a/c 2012-2013

  4. samit kumar deb says:

    is tcs applicable on sale of coal tar from west bengal

  5. binay says:

    DEAR SIR,
    PLZ. TELL ME WHICH IS LAST DATE OF TDS DEPOSIT ON INTEREST ON UNSECURED LOAN

  6. Nilesh jadhav says:

    Thanks for a valuable information.

  7. Prashant Chaube says:

    Dear Sir,

    Pls provide the chart of tds on salary AS years 13-14 plssssss

    Pash

  8. k.Srinivasa says:

    Dear Sir,

    We were not collecting TCS for 2011-2012 on some of the scrap items and now for the year 2012-2013 we want to collect.Please can u give me the clarification when this should be collected and whether interest is payable on the same.

    Thanks & Regards
    K.Srinivasa.

  9. RAJIV SINGH says:

    DEAR sir please tds ka rate find karkar batane ki kirpa kare

  10. Mukesh says:

    plz tell me provide knowlede abot service tax????

  11. Hira Singh Bisht says:

    We gets lot of help with this site for different purposes

  12. Shweta says:

    Last date of payment of TDS for the month of March.

    Please reply

  13. Prasanta says:

    sir
    i very need full tds rate and tcs rate of assessment year 2014-15
    ple provide mev

    thanks with regards

    Prasanta Kumar malik
    (PK Giripade)

  14. SUNIL NAHAR says:

    RENT PAID IN INR RS.180000.00 TO NRI. WHETHER TDS IS APPLICABLE ?? RATE??

  15. Pavankumar Kabra says:

    Dear sir,
    I am confused, i just want to know that under section 194I – for Furniture & Fittings – What rate is applicable?
    Because you have given 2% in above chart, but according to other Authors its 10%
    Please confirm.

    Thanking you
    Pavankumar Kabra

  16. AKASH GUPTA says:

    ho hoye, ho hoye

  17. kumar says:

    i want wat is the section of 194c

  18. DINESH PRASAD ACCOUNTS OFFICER (EDP) says:

    I am very happy to all type of TDS rate I want 2 now newly / latest TDS retrun software.

    thanks with regards

  19. anandever says:

    For Section 194 C (1) & (2)
    What is the Cut off amount for multiple transactions during the financial year 2012-13???

  20. janak c. shah says:

    For Section 194 C (1) & (2) the cut off amount given are for single transactions. You can Cut off amount for multiple transactions which is Rs. 75000/-.

  21. Ravi says:

    This is very useful in day to day accounts life. Thank U very much sir.

  22. Manoj says:

    HI
    Can i claim section 10 exemption in current company, if not claimed in last company, if yes, where it is mentioned in income tax act.

    please reply…….

  23. Jayam Satish says:

    Provide the rates for Corporates too………….

  24. vasantha says:

    194C cutoff amount is Rs.70000/- please clarify

  25. YOGESH CHANDRA MISHRA says:

    May I know in which section TCS Pay against sale of Jwellary ? wait for your reply.

  26. sunil mittal says:

    i want to know about tcs imposed on trading of coal. the billing method/proforma and the value on which tcs is deducted

  27. Jatin Shah says:

    Sir, 
    Pl. provide salary slab for male & female also Director Remuneration  

  28. vijay gaikwad says:

    if i payment paid to the party then how is the tds rate of Transport on Bus services.

  29. vijay gaikwad says:

    if i payment paid to party then how is the TDS rate of Transport on Bus Services.

  30. P Sasidhar Mohan says:

    Can a professional consultant ( age 63 years ) be exempted from deduction of TDS by a private co , under 194J if he submits Form 15 H, if his income is less than rs.2,50,000/- during AY 2013-14

  31. Amit Kalia says:

    A very graceful thanx to u sir for providing these in4mation to us…

  32. DILEEP GUPTA says:

    sir pz provide to service tax deposit date

  33. DILEEP GUPTA says:

    sir pz provied tds return & tds challan & tds certificate and tds deposit date  year 2011-2012

  34. YOGESH SHARMA says:

    SIR, PLZ PROVIDE TDS RULES FOR THE FINANCIAL YEAR – 2012-13

  35. raja bose says:

    All the information are very useful. Thanks to You.

  36. SANJAY JANGAM says:

    i am flat morgadge loan given , if me ALLOWAD benifit of stam duty and regd. fee for salary / business ITR

  37. ram bali singh says:

    sir
    i very need full tds rate and tcs rate of assessment year 2012-13
    ple provide mev

    thanks with regards

    ram bali singh

  38. sanjay kumar sharma says:

    many many thanks for information

  39. Chandu says:

    The newly introduced section 194J(1)(ba) states that TDS to be deducted @ 10% on remuneration or commission paid to director of the company, but 192 states that TDS to deducted @ average rate on his salary. Now my question is that upto date TDS on manegerial remuneration paid to director is deducted as per Sec 192, but now under which section deduction is to be made. If it is to be made under Sec 192 rate is average rate but if it is under 194J it flat rate @ 10%…..

    please reply…

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