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TDS RATE CHART FY 2011-12 (AY 2012-13)

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TDS RATE CHART FY 2011-12 (AY 2012-13) Powered By Docstoc
					                                                       TDS RATE CHART
                                                ASSESSMENT YEAR 2012-2013
                                                 FINANCIAL YEAR 2011-2012
                                                                                                 Company
                                                                                                                              If No PAN
                                                                                                   Firm
                             Nature of Payments                                                                  Individual       OR
                                                                                 Threshold      Co-op Soc.
                              Made to Resident                                                                      HUF         Invalid
                                                                                                  Local
                                                                                                                                  PAN
                                                                                                 Authority
         Sec.                   Description                                       Amount           RATE              RATE       RATE
                        Interest - Payable by Banks                                10,000           10                10         20
         194A           Interest - Payable by Others                                5,000           10                10         20
         194B           Winning from Lotteries / Crossword Puzzle                  10,000           30                30         30
                        Payment to Contractors - Single Transaction                30,000            2                 1         20
         194C
                        Payment to Contractors - Aggregate in a financial year     75,000            2                 1         20
         194D           Insurance Commission                                       20,000           10                10         20
         194H           Commission / Brokerage                                      5,000           10                10         20
                        Rent                                                      1,80,000          10                10         20
         194 I
                        Rent - Plant / Machinery                                  1,80,000           2                 2         20
         194J           Professional Fees                                          30,000           10                10         20

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

*Interest of late deposit of TDS is proposed to be increased from 12% p.a to 18% p.a effective from 1st July 2010.
 Notes: (1) Due date of payments is as under:

(a) Credit/Paid in the month of March – 30th April

(b) Any other case – On or before 7 days from the end of the month in which deduction is made.

(2) With effect from 1st April 2010, in case the receiver of the sum does not have PAN,
then the deduction has to be made @ 20% or higher rate
The Due Dates for filing Quarterly Statements for TDS/TCS

 For quarter ended                             Due Dates

              30-Jun-11                                                   15-Jul-11
              30-Sep-11                                                  15-Oct-11
              31-Dec-11                                                 15-Jan-12
              31-Mar-12                                                 15-May-12




TDS DEPOSIT RULE

As a common rule tax is to be deposited with 7th of the immediate next month after deduction .
However March tax is to be deposited by 30th April of the next financial year.
For March ,2011 tds ,due date is 30.04.2011 and March 2012 due date is 30.04.2012.

				
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