Deepak Gupta | Jul 28, 2016 |
Minimum amount up to which TDS is not deducted / TDS Rate Chart / ( TDS Threshold limit) for F.Y 2016-17
Tax Deducted at Source (TDS) Rate Chart/Slab for Financial Year (FY) 2016-17 / Assessment Year (AY) 2017-18 Below is TDS/TCS Rates Chart for Financial Year 2016-17/ Assessment Year 2017-18. Below is Upto date TDS rate chart considering the amendments.
S.No. | Particular | Sec | Threshold limist | Rate |
1 | No deduction of tax at source from salaries | 192 | If net taxable income is less than maximum amount which is not chargeable to tax (Rs. 2,50,000 for an individual, Rs. 3,00,000 for Senior Citizens and Rs. 5,00,000 for Super Senior Citizens) | On the average rates on the basis of per rates for individuals. (30% if no valid PAN) |
1A. | No TDS from payment of provident fund account of an employee | 192A | If amount paid is less than Rs. 30,000. (Rs. 50,000 w.e.f. 1-6-2016) | 10% (30% if no valid PAN) |
2 | No TDS from interest paid on debentures issued by a company in which public are substantially interested. Providentinterest is paid by account payee cheque to resident individual or HUF | 193 | If amount paid or payable during the financial year does not exceed Rs. 5,000 | 10% (20% if no valid PAN) |
3 | No TDS from interest on 8% Saving (Taxable) Bonds 2003 paid to a resident persons | 193 | If amount paid or payable during the financial year does not exceed Rs. 10,000 | 10% (20% if no valid PAN) |
3A. | No TDS from interest on 6.5% Gold bonds, 1977 or 7% Gold bonds, 1980 paid to resident individual | 193 | If a declaration is made that the nominal value of such bonds did not exceed Rs. 10,000 at any time during the previous year | 10% (20% if no valid PAN) |
4 | No TDS from dividend paid by account payee cheque to resident persons | 194 | If amount paid or payable during the financial year does not exceed Rs. 2,500 | 10% (20% if no valid PAN) |
5 | No TDS from interest other than on securities paid by a banking company or co-operative bank on time deposits | 194A | If amount paid or payable during the financial year does not exceed Rs. 10,000 | 10% (20% if no valid PAN) |
6 | No TDS from interest on deposit with a post office under Senior Citizens Saving Scheme Rules, 2004 | 194A | If amount paid or payable during the financial year does not exceed Rs. 10,000 | 10% (20% if no valid PAN) |
7 | No TDS from interest other than on securities (in any other case) | 194A | If amount paid or payable during the financial year does not exceed Rs. 5,000 | 10% (20% if no valid PAN) |
8 | No TDS from interest on compensation awarded by Motor Accident Claims Tribunal | 194A | If amount paid or payable during the financial year does not exceed Rs. 50,000 | 10% (20% if no valid PAN) |
9 | No TDS from Lottery / Cross Word Puzzles | 194B | If amount paid or payable during the financial year does not exceed Rs. 10,000 | 30% (30% if no valid PAN) |
10 | No TDS from winnings from horse races | 194BB | If amount paid or payable during the financial year does not exceed Rs. 5,000 (Rs. 10,000 w.e.f. 01/06/2016) | 30% (30% if no valid PAN) |
11 | No TDS from sum paid or payable to contractor | 194C | a) If sum paid or payable to a contractor in a single payment does not exceed Rs. 30,000 b) If sum paid or payable to contractor in aggregate does not exceed Rs. 75,000 during the financial year (Rs. 1,00,000 w.e.f. 01/06/2016) | 1% For Individual / HUF for Others 2% (20% if no valid PAN) |
12 | No TDS from insurance commission paid or payable during the financial year | 194D | If amount paid or payable during the financial year does not exceed Rs. 20,000 (Rs. 15,000 w.e.f. 01/06/2016) | 10% from 01.04.2016 to 31.05.2016 5% wef 01.06.2016)(20% if no Valid PAN) |
12A | No TDS from sum payable under a life insurance a policy (including bonus) to a resident (w.e.f. 01-10-2014) person | 194DA | If amount paid or payable during the financial year does not exceed Rs. 1 lakh | 2% (1% wef 01.06.2016)(20% if no Valid PAN) |
13 | No TDS from payments made out of deposits under NSS | 194EE | If amount paid or payable during the financial year does not exceed Rs. 2,500 | 20% (20% if no Valid PAN) |
14 | No TDS from commission paid on lottery tickets | 194G | If amount paid or payable during the financial year does not exceed Rs. 1,000 (Rs. 15,000 w.e.f. 01/06/2016) | 10% from 01.04.2016 to 31.05.2016 5% wef 01.06.2016)(20% if no Valid PAN) |
15 | No TDS from payment of commission or brokerage | 194H | If amount paid or payable during the financial year does not exceed Rs. 5,000 (Rs. 15,000 w.e.f. 01/06/2016). Further no tax to be deducted from commission payable by BSNL/ MTNL to their PCO Franchisees. | 10% from 01.04.2016 to 31.05.2016 5% wef 01.06.2016)(20% if no Valid PAN) |
16 | No TDS from payment of rent in respect of land &building, furniture or fittings or plant and machinery | 194-I | If amount paid or payable during the financial year does not exceed Rs. 1,80,000 | 10% If rent is for land, building or furniture(20% if no Valid PAN)2% If the rent is for Machinery, Plant or Equipment(20% if no Valid PAN) |
17 | No TDS from payment of consideration for purchase of an immovable property (other than agriculture land) | 194-IA | If amount paid or payable during the financial year does not exceed Rs. 50 Lakhs | 1% (20% if no Valid PAN) |
18 | No TDS from payment of professional fees, technical fees, royalty and directors’ remuneration | 194J | If amount paid or payable during the financial year does not exceed Rs. 30,000 | 10% (20% if no Valid PAN) |
19 | No TDS from payment of compensation on compulsory acquisition of immovable property (other than Agricultural Land) | 194LA | If amount paid or payable during the financial year does not exceed Rs. 2,00,000 (Rs. 2,50,000 w.e.f. 01/06/2016) | 10% (20% if no Valid PAN) |
20 | Furnishing of quarterly return in respect of payment of interest (other than interest on securities) to residents without deduction of tax | 206A | If amount paid or payable during the financial year does not exceed: a) Rs.10,000 where payer is banking company or co-operative society; b) Rs.5,000 in other case |
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