TDS Rates Chart for F.Y. 2014-15 A.Y. 2015-16
Every deductor need to deduct TDS as prescribed in Income Tax Act (not more than that and not lower than that). No doubt, there is no penalty to deduct more or wrongly deduction of TDS. However, deductor will issue TDS certificate (Form 16/Form 16A) as per actual deduction. The payee should claim the refund as per TDS certificate whether is wrongly deduction or higher deduction as the case may be.However, TDS can be adjusted against any other payment made or credited if TDS has been wrongly deducted from a payment on which there is no liability to deduct TDS. However, the penalty for non-deposit of TDS will be imposed by Income Tax Department. So TDS rates plays very important part for payer and payee to get easily and timely income tax refund.
| Section | Payment Nature | Payment in excess of | TDS Rate | TDS Rate |
| for Individiual | for Others | |||
| 194A | Interest from a Banking Company | 10000 | 10% | 10% |
| 194A | Interest other than from a Banking Co. | 5000 | 10% | 10% |
| 194C | Contractors (including Advertising & Sub-Contractor) | 30000 (per payment) or 75000 p.a. | 1% | 2% |
| 194C | Transport Contractors (Providing PAN and enganged in the business of plying, hiring or leasing of goods carriages | Nil | Nil | Nil |
| 194D | Insurance Commission | 20000 | 10% | 10% |
| 194H | Commission or Brokerage | 5000 | 10% | 10% |
| 194I | Rend of Land & Building | 180000 | 10% | 10% |
| 194I | Rent of Plant & Machinery and Other Equipments | 180000 | 2% | 2% |
| 194IA | Transfer of Immovable Property other than Agriculture Land | 5000000 | 1% | 1% |
| 194J | Payment for Professional Services, Technical Services & Royalty | 30000 | 10% | 10% |
| 194J(1)(ba) | Payment to Directors any remuneration or fees or commission by whatever named called if the same is not covered u/s 192 | – | 10% | 10% |
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3 thoughts on “TDS Rates Chart for F.Y. 2014-15 A.Y. 2015-16”
Please send me a chart of TDS rates for AY 2015-16.
Thank You.
Check heading
TDS Rate Chart F.Y. 15-16 A.Y. 16-17
Thanks Aryendra Sir.
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