TDS Rate for financial Year 2010-11/ Assessment year 2011-12 and Amendment made by union budget 2010

Increase in thresholds limit of deduction of tax from various payments

This bill proposes to increase various thresholds limit for deduction of tax from various payments like Winning from Lottery or Crossword Puzzle, Winning from Horse Race, Payment to Contractors, Insurance Commission, Commission or brokerage, Rent, Fees for Professional and Technical Services. The proposed amendments w.e.f 1st July, 2009 made under the new provision are summarized as under:

(Amounts in Rs.)

Section Nature of Payment Existing Proposed
194B Winning from Lottery or Cross word puzzle 5,000 10,000
194BB Winning from Horse Race 2,500 5,000
194C Payment to Contractors [per Transaction] 20,000 30,000
194C Payment to Contractors [Annual Limit] 50,000 75,000
194D Insurance Commission 5,000 20,000
194H Commission or Brokerage 2,500 5,000
194I Rent 1,20,000 1,80,000
194J Fees for Professional and Technical Services 20,000 30,000

Consequences of failure to deduct tax, or after deducting failure to pay tax deducted/tax collected at source u/s. 201(1A)

Under the existing provision of section 201(1A) of the Act, where the person does not deduct the tax or after deducting fails to pay the tax, he is required to pay simple interest at the rate of 1% for every month or part of the month. Amendments are proposed to treat the cases of failure to make payment, after deducting the tax at source more severally then the cases of pure failure. The proposed amendment to this section w.e.f. 1st July, 2010 has increased the rate of interest in cases of failure of payment after deduction to 1 1/2% for every month or part of the month till the date on which such tax is actually paid. The rate of interest will remain same at one percent for the cases of actual default of deduction of tax itself.

Certificate for tax deducted or collected u/s. 203 and u/s. 206C

The tax department was proposing to grant the credit of tax at source under their Online Tax Accounting System (OLTAS), completely obviating the necessity to issue certificate of deduction of tax at source and furnishing the same with the tax returns. Accordingly, the Finance Act, 2005, section 203 and section 206C(5) were amended for abolishing the requirement for issuance of the TDS and TCS certificate.

Considering the practical difficulties being encountered, the earlier procedure of issuance of TDS/TCS certificate has been restored.

TDS RATE FOR THE ASSESSMENT YEAR 2011-2012 (in %)
(TDS rates with effect from 1st April 2010)

Section Natureof Payment Threshold
limitupto
30th June,
2010
(in Rs.)
Threshold
limit w.e.f.
1st July,
2010
(in Rs.)
Individual/
HUF/ BOI/
AOP
Firm Co-
operative
Society /
Local
Authority
Company
192 Salary As per slab As per slab Normal Rate
(incl. cess)
N.A. N.A. N.A.
193 Interest on Securities
(1) Interest on Debentures or Securities (Listed) 2500* 2500* 10.00 10.00 10.00 10.00
(2) Interest on 8% Savings (Taxable) Bonds, 2003 10000 10000 10.00 10.00 10.00 10.00
(3) Any Other Interest on Securities (Unlisted) 0 0 10.00 10.00 10.00 10.00
194 Dividend other than dividend covered by Section 115-O 2500* 2500* 10.00 10.00 10.00 10.00
194A Interest other than Interest on Securities (other than below) 5000 5000 10.00 10.00 10.00 10.00
Where the payer is
(1) Banking Company 10000 10000 10.00 10.00 10.00 10.00
(2) Co-operative Society engaged in banking business 10000 10000 10.00 10.00 10.00 10.00
(3) Post Office (deposit scheme framed by Central Government) 10000 10000 10.00 10.00 10.00 10.00
194B Winning from Lotteries 5000 10000 30.00 30.00 30.00 30.00
194BB Winnings from Horse Races 2500 5000 30.00 30.00 30.00 30.00
* in case of resident only
194C Payments to Contractors
(1) In case of Contract/ Sub-Contract/ Advertising 20000 (Note 1) 30000 1.00 2.00 2.00 2.00
(2) Contractor/ Sub-Contractor in Transport Business 20000 (Note 1) 30000 NIL( Note 2) NIL (Note 2) NIL(Note 2) NIL(Note 2)
194D Insurance Commission 5000 20000 10.00 10.00 10.00 10.00
194E Non-Resident sportsman/ sports association 0 0 10.00 10.00 10.00 NA
194EE Deposits under NSS to Resident/Non-Resident 2500 2500 20.00 20.00 20.00 NA
194F Repurchase of Units of Mutual Fund/UTI from Resident / Non-Resident 0 0 20.00 20.00 20.00 NA
194G Commission on Sale of lottery tickets to Resident / Non- Resident 1000 1000 10.00 10.00 10.00 10.00
194H Commission or Brokerage to Resident 2500 5000 10.00 10.00 10.00 10.00
194I Rent to Residents
(a) Rent for Machinery/ plant/equipment 120000 180000 2.00 2.00 2.00 2.00
(b) Rent for other than in (a) 120000 180000 10.00 10.00 10.00 10.00
Note:-1. This limit is for individual transaction. However, if aggregate payment to a contractor during the year exceed Rs. 50,000 (Rs. 75,000 w.e.f 1tst July, 2010), then tax will be required to be deducted, even where individual transaction is less than the threshold of Rs. 20,000 (Rs. 30,000 w.e.f. 1st July, 2010).2. The Nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 20%. (Transporter means persons engaged in plying, hiring and leasing of Goods Carriages)
194J Fees for professional / technical services to residents 20000 30000 10.00 10.00 10.00 10.00
194LA Compensation to Resident on acquisition of immovable property 100000 100000 10.00 10.00 10.00 10.0
195 Payment of other sums to a non-resident 0 Rate specified under Part II of First Schedule of Finance Bill, 2010 subject to provisions of DTAA
196B Income from units (including long term Capital Gain on transfer of such units) to an offshore fund 0 0 10.00 10.00 10.00 10.00
196C Income from foreign currency bonds or GDR of Indian Company 0 0 10.00 10.00 10.00 10.00
196D Income of FII from securities not being dividend, long term and short term capital gain 0 0 20.00 20.00 20.00 20.00

Note:

In order to strengthen the PAN mechanism, it is proposed to make amendments in the Income Tax Act to provide that any person whose receipts are subject to deduction of tax at source i.e., the deductee, shall mandatorily furnish his PAN to the deductor failing which the deductor shall deduct tax at source at higher of the following rates:

(i)     the rate prescribed in the Act;

(ii)   at the rate in force i.e., the rate mentioned in the Finance Act; or

(iii) at the rate of 20 percent

The above provisions will also apply in cases where the taxpayer files a declaration in form 15G or 15H (u/s 197A) but does not provide his PAN. Further, no certificate under section 197 will be granted by the Assessing Officer unless the application contains the PAN of the applicant.

TCS RATE FOR THE ASSESSMENT YEAR 2011-2012 (in %)
(TCS rates with effect from 1st April 2010)

Section Nature of Payment Threshold
Limit
(in Rs.)
Individual/
HUF/ BOI/
AOP
Firm Co?
operative
Society /
Local
Authority
Company
206CA Alcoholic liquor for human consumption and Indian made foreign liquor 0 1.00 1.00 1.00 1.
206CB/ CC/
CD
Timber obtained by any mode and any other forest produce 0 2.50 2.50 2.50 2.50
206CE Scrap 0 1.00 1.00 1.00 1.00
206CF/ CG/
CH
Parking lot / toll plaza / mining and quarrying 0 2.00 2.00 2.00 2.00
206CI Tendu leaves 0 5.00 5.00 5.00 5.00

More Under Income Tax

3 Comments

  1. emmanuel surrao says:

    Dear Sir,
    For the finical year 2010-11, as per the 194c, if pan No. is provided by the transporter.no TDS deducted, is there any other condition that the transporter should not have more than 10 vehicles.

    Regards
    Emmanuel Surrao

  2. Chintan Shah says:

    I am currently working with a software company in Pune as a salaried employee.

    I have brought in a project in my previous company that was for 1 year contract with the client. So based on monthly payment company receives from client, I receive the commision accordingly on monthly basis.

    Till date, I have received

    Sept’2013. – Rs. 17,560/-
    Oct’13. – Rs. 11,520/-
    Nov’13. – Rs. 11,520/-
    ———————————
    Total – Rs. 40,600/-

    (-)TDS – Rs. 4060/- ( TDS 10%)

    Now, they are saying that if commision of a person (who is not a salaried employee of that company) exceeds Rs 30,000 per year, then 10% tax is applicable on whole amount including that Rs 30,000.

    In my case, for Nov month incentives, they said that I will receive

    Rs. 11,520 (-) Rs. 4,060 = Rs. 7,460

    I am aware that tax is applicable, but is it including that Rs 30,000 or tax is applicable to the amount beyond Rs 30,000.

    Thank you in advance 🙂

  3. Sandhya says:

    Sir,

    THis is regarding TDS on professional charges. We have received 3 bills from our company secretary. Total value from 3 bills is Rs.31,100/- (as per my knowledge TDS need not be deducted upto 30000) Should I deduct TDS on Rs.31,100 or Rs.1,100?

  4. RAJASHREE KALSE says:

    TDS RENT FOR 12-13 IF CONTRACT FOR 3 YEAR & SERVICE TAX RATE INCREASES THAN HOW MUCH SERVICE TAX DRAWN FOR AMT 200000/- RENT.

    PLEASE GIVE ME GUIDENCE

  5. Kunal singh says:

    Respected Sir,
    If we have to make a single payment in a year to a transporter of Rs. 16,000/- and he is not having Pan no. then should i deduct tds or not ? My confusion is that whether a transporter should have PAN no in all cases or else only if his total payments exceeds Rs 75,000/- in a year.

    regards
    Kunal

  6. bharat says:

    i am an insurance agent, i share commission with 3 persons for refering me clients. pls let me know till how much amt i can pay without tds.

  7. CWA PRANAB K SATAPATHY says:

    Sir,
    I am working in a state govt.managed project known as RASTRIYA MADHYAMIK SHIKSHA MISSION at Bhubaneswar of ODISHA. As per order of Secretary of Odisha Govt. Being the chairman of our society, renovation work of our office has been made of amount Rs.25.00lakhs through departmentally. now my question is wheather we will deduct TDS ON CONTRACT AS some portion of work has been done through subcontractor.

  8. krishna says:

    I offer professional web marketing services to a client under a company name(PVT LTD) and used to collect monthly amount of Rs.25000/-. Now i want to take these monthly payments on my Individual name.
    Could you please let me know, how to approach the client for change of Account and in which Tax section i will be in ?

  9. vikram says:

    i working a manufcatue company and we are recived Transport bill 9850/- Without pan , please tell me what TDS RAte , Which amount TDS Deducted on Transporter amount limit

  10. M.SENTHIL KUMAR says:

    Fees for professional / technical services to residents is exemptable under 194J upto 20000/- proposed is 30000/-. In this regards, who is called as a professional. Managers above grade is treated as a professional ??

  11. roop says:

    Q. We are running a school. our landlord is a NRI and we have to pay annual rent about Rs.158000/- in the current FY2011-12. As per sec.194I of the ITAct’1961 TDS on rent paid to resident-individual should be deducted @10% if total rent exceeded to Rs.180000/- per annum ..and @20% in the case of Non-PAN.
    Please suggest-
    a) what should be the TDS rate in the case of NRI-(Individual) with valid PAN or Non-PAN too ?
    b) further, please also clarify what is the threshold limit for tds deduction reg. payment of rent to NRI. Is it the same as mentioned in sec.194I or zero (no minimum limit) ?
    c) Is any difference of TDS rate…. if you find any provision in ADT with USA / Canada in such type of payment.

  12. anupam gupta says:

    some of the institutes are deducting 10% tds on contracts. The contractors who are involved in services like construction of roads, construction of building, establishment of power grids & other civil nature of work are being deducted TDS @ 10% from their bills. It is correct or it is not. If it is correct why u/s 194 (C) the rate for contract is shown as 2% only.

  13. Thenmozhi says:

    Sir,

    Pls let me know the % of tds to be paid at source for Company for payment of sewerage amount for the financial year 2011-12 Assessment Year.and Can u please tell me in the construction field which is the deduct from the TDS & what is the percentage.

    Thanking You.

  14. sanjay kumar says:

    during partition of india / pakistan in 1947 muslim population was forced to leave india. they left behind their immovable properties. the authorities in jammu and kashmir set up a department, administered locally, (kept out of state exchequer) to monitor and maintain these properties. this department receives rentals from the authorised occupants of these properties ( land, shops, buildings, houses). is this rental income taxable. which section of income tax act does apply here.

  15. Rampravesh says:

    sir,

    kindly advice me tds deducts f/y 2010 to 2011 and deposited to challan but not deposited to returns how show tds amounts 26as ca ask for him u can give the trail balance finalized of balance

    thanking you
    rampravesh

  16. TITUS says:

    Dear Sir

    while submitting the e filing (ITR 1) my name given was wrong. however PAN number, amount etc were all correct. I could not file the Revised Return since the system (IT) does not accept Revised return sunder section 139(1). Please advise.

    Thanking you

  17. prakash says:

    i am service in bank, my question is , customer invest amount in STDR Capital gain schme and no TDS is tobe deducted on it,
    Query: Whether TDS is to be deducted(capital gain scheme) on the amount of interest or it is to be exempted because capital gain scheme amount is exempt.
    customer want TDS examption certificate, can i given certificate(under which sec.of it laws). pl advise any printed format availabe.some deposits of Motor excident claim tribunal office and other govertment offices(i.e.police,court etc) their own funds (No PAN No.is given) can exampt of TDS.

  18. rony says:

    I have got my TDS from my organisation but since I swapped my organisation in last Assessment year and although i submitted my form 12B there was a error in TDS which hot deducted . So I have to pay an additional amount . Can this be declared in my organisation for deduction in next assessment year or I have to pay it now . If i have to pay it now , I see many option like advance tax, self assessment etc category so in which category i should pay the remaining amount

  19. Anand says:

    Pls let me know if i can get Income Tax Exemption on the commission amount paid to the real estate agent, my main source of income is RENTAl INCOME?

  20. sumit says:

    I am based out in Singapore Travel agent, Selling rates of Indian hotel, is that hotel need to deduct TDS from my commission. i am not paying income tax in india and not ragister in india?

  21. Indra kant says:

    whether TDS on rent in case of joint property where the owner of the property is 50-50%, and if the the combined rent exceeds the ceiling but not the individual rent, in that case is it necessary to deduct TDS on rent at source. Eg. if the total rent received by the joint landlords is Rs.18500.00 per month, do we have to deduct tax on rent at source during the current financial year i.e. 2011-12.

  22. EXCEL ASSOCIATES says:

    We want to have full set of software on TDS which has to generate challan, annexure,cerficate and Q return.

    will you help me out

  23. vedachary says:

    Sir,

    pl. let me know the % of tds to be paid at source for non-company for payment of
    seneirage amount for the financial year 2011-12 Assessment Year

    Thanking you,

  24. Tarunkumar Nayak says:

    we are taking a scorpio from a private party for travelling purpose of our company pesons for this every month we are paying 25000/- so at end of the year how i will be calculate the tds amount and in which nature i will pay it to the govt please say me immedialty

  25. Tarunkumar Nayak says:

    Dear sir

    We are hiring a scopio vehicle from a individual person for this we are going to pay every month rupees 25000/- so please say me how i will calculate the tds and in which nature of payment i will deposit this amount.

  26. durga says:

    hi,

    I want tds calculator for the financial year 2011-2012

    &

    is there any one using tally.erp9 release3, if any one is there, please help for passing one entry for payment to contractor because i want to take all the reports which are related to tds from tally only. One confusion am facing when am selecting a particular party i.e. A and at deducteee type what option i have to choose (he is a tranporter and having pan card ) i tried to call that transporter and asked whether there firm is partnership he said no. what is company deductee type

    please help in this issue

  27. Daljeet Chouhan says:

    any budy know about rate of TDS On all ( Contractor, Prof., Salary , Rent, ) etc
    Please call me and tell me i will wait for our hepl.

    thanks you
    Daljeet Chouhan
    Mobile – 9873748032

  28. ARPIT says:

    I am geting salary @ 9000 per month.So i want to know that what amount of TDS is deducted from my salary and how could i got refund of that amount.

  29. Panchal Naimish says:

    Dear Sir

    Request to provide me new TDS rates financial years 2011-12 nature of expenses and deduct of % rate for the f.y- 2011-12

    new slab of income tax financial years 2011-12

    Thanks

  30. Shivanand.Sinha says:

    Dear Sir

    kindly provide me new tds rates financial years 2011-12 nature of expenses and deduct of % rate for the f.y- 2011-12

    new slab of income tax financial years 2011-12

    Thanks

  31. Rajkumar says:

    kindly provide me new tds rates financial years 2010-11 & 2011-12 nature of expenses and deduct of % rate for the f.y- 2010-11 & 2011-12

    new slab of income tax financial years 2010-11 & 2011-12

    Regards:
    Rajkumar
    [email protected]
    +91 96819 96165

  32. Satish says:

    If a contractor’s 1st bill amounted to Rs. 20000/- & then 2nd bill amounted to Rs. 30000/-. Then the TDS should be charged on Total of Rs. 50000/- or on Rs. 30000/- only ?.
    And also if 1st bill amounted to Rs. 20000/- & then 2nd bill amounted to Rs. 30000/- & 3rd bill amounted to Rs. 20000/-. Then the amount of TDS should be what ?

  33. kundanshah says:

    I received Commission Per monthly Approximate 40000 with Service Tax and deducted TDS amt . Please give me Calculation , How to Pay Service tax amount?

  34. ujwala says:

    i pay 16500 rent. so i charge tds 10% but this tds Charge by total rent or every month rent. i will pay yearly tds. or every mothly

  35. Dhokare Datta says:

    dear team

    kindly provide me new tds rates financial years 2011-12 nature of expenses and deduct of % rate for the f.y- 2011-12

    new slab of income tax financial years 2011-12

    Thanks

    Dhokare D S
    9881155934

  36. Kirt Sharma says:

    Dear Sir,
    Can you please tell me that how much interest do we have to pay on late payment of TDS on transportation and commission & brokerage.Can you exactly tell me how do we calculate that.

    Thank You.

  37. Satish kaushik says:

    hi. sir ,

    I want to know about the corporate tax with the slabe. I aslo wan to know how to research on financial product plz help me some suggetion.

  38. KAMAL says:

    Under payment to Contractor/ Sub-Contractor in Transport Business. if the freight amount is Rs. 15000 in single transaction and the transporter is not having PAN No. then is it mandatory to deduct TDS and what will be the situation if the payment to same transporter for the whole year is below 75000.00.

    Regards

    KAMAL

  39. rashid ali says:

    dear team

    kindly provide me new tds rates financial years 2011-12 nature of expenses and deduct of % rate for the f.y- 2011-12

    new slab of income tax financial years 2011-12

  40. TANU says:

    I HAVE STUDIED TAXATION FROM TAXMANN STUDENT’S GUIDE ASSESSMENT YEAR 2010-2011. NOW MY SCORE WAS 52 IN NOV’10. BUT MY GR. IS NOT CLEARED. FOR TAX SHALL I BUY THE TAXMANN STUDENT’S GUIDE ASSESSMENT YEAR 2011-2012

  41. N.L.N.SWAMY says:

    PLEASE CONFIRM ECAND SHEC IS NOT CHARGEABLE WHILE DEDUCTING THETAX AT SOURCE AND FOR FILING RETURN THE EC AND SHEC IS CHAREABLE -KINDLY CLARIFY

  42. aneesh says:

    Rates of TDS for major nature of payments for the Financial Year 2010-11
    Particulars Rates from 1.4.10 to 31.03.2011
    Section Nature of Payment Criteria for Deduction

    (payment in excess of) upto

    30th June 2010
    Criteria for Deduction (payment in excess of) w.e.f. 1st July 2010 If the recipient is a Company, Co- operative Society, Firm If recipient is an Indivudual or HUF
    194 A Interest from a Banking Company Rs.10,000/- p.a Rs.10,000/- p.a 10.00 10.00
    194 A Interest other than from a Banking

    Co.
    Rs.5,000/- p.a Rs.5,000/- p.a 10.00 10.00
    194 C Contractors Rs.20,000/- per contract or

    Rs.50,000/- p.a
    Rs.30,000/- per contract or Rs.75,000/- p.a 2.00* 1.00*
    194 H Commission or Brokerage Rs.2500/- p.a Rs.5,000/- p.a 10.00 10.00
    194 I Rent other than Plant, Mach.& Eqp. Rs.1,20,000/- p.a Rs.1,80,000/- p.a 10.00 10.00
    194 I Rent of Plant , Machinery & Equipments Rs.1,20,000/- p.a Rs.1,80,000/- p.a 2.00 2.00
    194 J Professional Charges Rs.20,000/- p.a Rs.30,000/- p.a 10.00 10.00

    * No tax is to be deducted in the case the Contractor is in transport business and PAN is Quoted by him

  43. Bhaskar says:

    we are a private limited company and have taken on rent a property from an individual from for a rent of Rs. 1,50,000 per month in hyderabad. What is the TDS we have to deduct and aso let me know if we have to pay any service tax on this rental

  44. ramesh says:

    whats the percentage for we have local transporter services ( matrl supplied) they now given bill monthly TDS to be deducted pls confirm

    Mob; 81 23 28 07 26, Sys – N consultants Blr

  45. vidyasagarsunku says:

    If Building owner is NRI, Building is in India. Tenant (Firm)is in India, He has to deduct TDS on rent or not. AS owner is in U.S.A. Rent is 47,500/-

  46. PIYUSH JHUNJHUNWALA says:

    SIR,

    I WANT TO KNOW WHAT WILL BE TDS RATE ON HEAVY MOTOR VECHILE HIRING LIKE CRANE,HYDRA ETC.
    IS IT 2% OR NIL? PLZ GIVE ME LIGHT IN THIS MATTER

  47. kannanAgencies says:

    please send the following question

    private FINANCE company interest paid -TDS Amount deduction section and percentage & date of amendment must

    thanking you

  48. Dilip Mayekar says:

    Please let me know whether surcharge and additional surcharge on I.T & S.C.is collected on sale of scrap u/s.206 C of I.T and finance act 2010-2011.

  49. rama says:

    i have rented out a commercial property for 19,000 per monyh since december 2009. what is the TDS amount that can be educted from the rent. also please suggest me if i do agree to deduct the TDS from the rent or shall i take the entire rent and then file tax return for the income

  50. revanth says:

    hi sir i am joining a accountant in a private company so please help me how to calculate the salary base TDS pleases send me as early as possible

  51. J Viswanadha Kumar says:

    we are working in pvt ltd co., pleas send me details with
    chart for the financial year 2010-11 for the assessment year 2011-12 at any cost.

  52. manoj says:

    We paid rent Rs. 10000/-, Rs.18150/-, RS. 13000/- to same land lord(staTUS- HUF) for different premises. can we deduct TDS on THREE RENT AMOUNTS. THOUGH THRESH HOLD LIMIT IS rS 180000/-

  53. Rajesh says:

    This site is really helpful to all.

    Please send me the rates in detail for the FY 2010-11 for the below:

    TDS, Service Tax, APVAT, WCT

    Thank you,
    Rajesh

  54. Akshay says:

    Dear Taxguru

    My mother has rented our parental house to a company in july, 2010 for the rent amount of 20,000 per month. After three months of paying rent, the company has deducted tds at the rate of 10.3% for the previous three months also. Kindly guide if the company needs to deduct tds or we can
    ask them to give us the entire amount since she does not have any other income and the tds amount also do not go beyond 180000/-

  55. KP521 says:

    If in entire Q1 of current year, I have not deducted any TDS, but paid transport freight without TDS as driver gives me PAN, whether I ma required to file quarterly TDS Return or not.

  56. Navaneeth says:

    DEAR SIR
    OUR COMPANY DEDUCTING TDS UNDER SECTION 194J WHEN MAKING PAYMENTS TO HOSPITALS FOR HOSPITALIZATION OF OUR EMPLOYEES IN EMPANELED HOSPITALS APPROVED BY US .IF THEY HAVE PRODUCED TDS EXEMPTION CERTIFICATE AT THE TIME OF MAKING PAYMENTS THEN WE WILL NOT DEDUCT.NOWADAYS ALOT OF ARGUMENTS ARE TAKING PLACE BETWEEN OUR CO AND HOSPITALS FOR JUSTIFYING THE SAME.
    HOW CAN I GIVE CORRECT REPLY & TELL US LIST OF PROFESSIONAL SERVICES UNDER 194 J ALSO?
    NAVANEETH
    AAO FIN/
    BHEL
    KOLKATA

  57. Piyush Bansal says:

    Hello Sir,

    My company has deducted TDS but the same amount was not deposited to Government. When I questioned about the same, they told me they will give me but now they are just giving me the dates n dates.

    What would I do? Do I lodge the same into Consumer Forum?

    Please guide me.

    Regards,
    Piyush Bansal
    +91-9870055441

  58. laxmikant says:

    DEAR SIR
    I PURCHASES HOUSE PROPERTIES ON 26.10.04 IN RS-3,99,350/- & SALES ON 29.10.2009 IN RS- 8,00,000/- PROFIT RS:-4,00,650/-

    WHO MANY INCOME TAX PAYBLE ON PYOFIT ?
    PL.GIDE ME.
    UPADHYAY
    9029381867

  59. Mahesh Gupta says:

    Dear sir,

    if rent from april to june rs. 10000 per month & july to march rs. 15000 per month in this condition we deduct tds or not

    please send me clearification

  60. Nikita says:

    My CA say yes deduct his rent but other than CA say not deduct on rent becase rent exact 180000/- so what i do……….deduct yes or no please reply me

  61. Ashish Gupta says:

    we have an indivdual firm in the name of Vigil Security Services
    SO pls inform to us the rate of TDS of our firm
    it is 1% or 2 % will be deducted on bill

  62. Muhammed Yusuf says:

    Sir,
    I am running a Wedding Hall since five years. Yearly turnover reach fin year 2009-2010 Rs.11Lakhs. I have paid Service tax for the exceeded portion of Rs.1Lakhs @10.3percent.

    During the financial year 2010-11 I was told by the Chartered Accountant that I must pay tax for the entire amount. Please explain.

    Regards,
    Muhammed Yusuf

  63. L Nath says:

    Sir, I am a life insurance advisor. The company deducts income tax and service tax on the commission payable. Income tax deducted can be got refunded by making savings and filing IT returns. What about the service tax deducted? The commission paid by company is from the premium paid by the customer, from whom service tax etc are being deducted alongwith other chares of the scheme. From that premium amount I get commission, for which again service tax is deducted? Is it justified? Is this not a double jeopardy? can I get that amount refunded? Pl advice.

  64. manoj says:

    if a real estate company give a contract for build a flat and contact amount is exceed to rs 50000/-
    in this case any tds liability arise of the co u/s 194c

  65. Morrison Rose says:

    1) Where FCRA return will be filed in delhi.
    2) What is the last dt of filing the Return of TDS recovered from Sub Contractor & where to file the return in Delhi.

  66. Samuel says:

    Hello sir,

    Do banks deduct TDS for the interest earned from savings account? Should that be included in total income?
    please can you advise?

  67. connie says:

    please sent to excel format (tds & tcs rate table). tq

    btw, i new to India taxation, could u guide or advise me whether to get the simple & complete guidance for the latest Accounting std & taxation in India.

    Your advice would be deeply appreciated.

    Thanking u in advance…

  68. S.MOHAN says:

    IS TDS TO BE DEDUCTED ON HOTEL ACCOMODATON GIVEN BY THE COMPANY TO EMPLOYEES WHO HAVE COME FROM OTHER CITIES FOR TRAINING ETC. SHOULD WE DEDUCT TDS AND PAY THE BILL. IF IT IS PAYABLE PLEASE CONFIRM WHETHER WE NEED TO DEDUCT TDS UNDER RENT OR CONTRACT.

  69. Advocate Ashish Kamthania (Rampur-UP) says:

    SIR,

    I AM APPEARING IN THE FINAL YEAR EXAM OF LLM THROUGH DISTANCE EDUCATION FROM THE GLOBAL OPEN UNIVERSITY, NAGALAND, IN JUNE 2010, AND GET MY RESULT IN THE MONTH OF OCT.2010.

    I want to enrolled for PHD in LAW, from any Indian university,

    I AM ELIGIBLE FOR TAKING ADMISSION IN PHD IN LAW OR NOT ?

    please guide me ..

    Regards..


    Thanks & Regards,

    Ashish Kamthania,
    BSC, BED, PGDCA, LLB,
    (Tax Consultant & Advocate)
    Income Tax, Commercial Tax & VAT,
    23, Tilak Colony,
    Rampur – U.P.
    244901 INDIA
    Mobile :
    09258010105.

  70. O.P.Khanna says:

    I am confused,I am regularly including my dividend income in my total income.I found tax is paid by company . Should we include dividend income in our return?

  71. Anirudha Sawant says:

    we had arrange local person to shifting office (Labour charges & transportation charges) & he charged Rs.36,000/- for same. But we pay hole amount in cash without deduct TDS. Is it ok? What the limit to pay cash without deduct TDS?

  72. LAHERCHAND CHHEDA says:

    I need data or case laws help me for CA office at residence at co-op hsg soc.

    Our Socity Committe is objecting of using Drawing room for My office purpose

    Thanks in advance

  73. sushil says:

    Biswajit Says:

    May 3rd, 2010 at 1:48 pm
    U/s 192b Salary for 2010 -11 surcharge and cess are aplicaple or not.

    CA Sandeep Kanoi Says:

    May 4th, 2010 at 6:11 am
    It is Applicable.

    Sir as per my understanding surcharge is waived of wef f.y 2009-10 and only 3 % cess is applicable. Kindly confirm as we are not charging surcharge nowdays while deducting TDS u/s 192B

  74. Indian Non Resident says:

    Dear Sir

    I am an NRI. My annual interest on my fixed deposits are less than 1 lacs. Do I need to submit 15G to stop TDS deduction? Do I need to file Income Tax Return each year?

    Appreciate your help in responding to my both questions.
    Thanks

  75. Debasis says:

    Dear sir,

    If any Vendor charge VAT on the bill value & if the job related any contract can we deduct TDS as per the Contract Rate / Also let me know can we deduct TDS on the job value or entire bill value(Which is includes VAT).

  76. GUY BAEYENS says:

    an foreign employee with a indian employment contract (under employment visa for 1 year) paid directly to a service flat company the monthly bill without deducting TDS. This foreign employee sought reimbursement from the indian company. Apart that this reimbursement forms a monetary valuation to be added to the taxable salary, is there a ‘tax legal error’ in not first, deducting the TDS , and secondly in the company reimbursing the foreign employee 100% of the hotel expenses made. Also note that the hotel bill is in name of the company, but receipt of payment in the name of the employee.

  77. swapnil bagul says:

    Dear Sir
    my client paid rent greater than 120000 but less than 180000. can i deduct tds for the month of april may june. because limit extend from 1.7.2010
    Plz reply early as possible

    Thanks

  78. VIJESH says:

    THE ABOVE DETAILS CONFUSING THE PEOPLE BECAUSE THE MAIN HEADING IS TDS APPLICABLE FROM 01.04.2010 BUT IN THE SCHEDULE GIVEN DATE IS 01.07.2010 PLS CORRECT WHICH IS ORIGINAL

  79. Vishwa Bandhu Nigam says:

    Dear Sir,

    Above details do not clear the sec.195. If any foreign party
    tender their services i.e. technical in india and have not furnished PAN, in such case what rate of TDS will be applicable.

  80. CA VIRENDER GUPTA says:

    Dear Mr. S. Mohan

    Since the New rates of TDs applicable w.e.f. 1st July 2010.Hence upto June 2010 you will have to deduct TDS on rent as per provisions of section 194I even though rent is below 1.80 lacs but should be exceeding 1.20 lacs.

  81. S.MOHAN says:

    if tds on rent exceeds 120000/- p.a but does not exceed 1.80 lacs .should we deduct tax for april,may, june 2010 because as per the new threshold limit it is 180000/- Please clarify.

  82. G.NATARAJAN says:

    Dear Sir,

    Please send me this table in the excel format and also inform the said amendments will be applicable from which date.(i.e.1st July 2009 or 2010)

    G.Natarajan

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