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%


    April 1st, 2015

    Please send me a chart of TDS rates for AY 2015-16.

    Thank You.

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