Académique Documents
Professionnel Documents
Culture Documents
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Contents
1. Introduction
2. Basics
3. Deduction of Tax
4. Due Dates
5. TDS Payments
6. Return Filing
7. Fees/Interest/Penalty
8. TDS Certificate
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Introduction
●It is not another type of Tax rather a way of collection of
Income tax.
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●TAN (Tax deduction Account Number): Every
deductor/payer to obtain TAN except who deduct Tax on
payment for property purchased.
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Deduction of Tax
●Tax has to be deducted @ specified in relevant section.
●Amount of Tax:
●estimated tax for FY/12 month
●For the month of March=Actual Tax Payable-Tax Paid
●Rate:@ 10%
●Limit:
●On debenture- Rs. 5,000
●On others- Rs. 10,000
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●Section 194 (TDS on Deemed Dividend):
●Rate:@ 10%
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●Section 194A (TDS on Interest other than securities):
●Rate:@ 10%
●Limit:
●For banking co.-Rs. 10,000
●For other –Rs. 5,000
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●Section 194B (TDS on lottery/CrosswordnPuzzle):
●Rate:@ 30%
●Rate:@ 30%
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●Section 194C (TDS on Contracts):
●Rate:
●Transporter with valid PAN @ 0%
●Individual/HUF @ 1%
●Others @ 2%
●Limit:
●Any single sum credited/paid >= Rs. 30,000 or
●Total Sum credited/paid during FY >= Rs. 75,000
●Rate: @ 10%
●Rate: @ 20%
●Rate: @ 20%
●Limit: RS.2,500
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●Section 194F (TDS on Repurchase by MF/UTI):
●Rate: @ 20%
●Rate: @ 10%
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●Section 194H (TDS on commission/brokerage (other
than Section 194D & 194G:
●Rate: @ 10%
●Rate:
●On Plant & Machinery- @ 2%
●On Land, Building & Furniture- @ 10%
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●Section 194IA (TDS on Purchase of Immovable
Property):
●Rate: @ 1%
●Rate: @ 10%
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●Section 194L (TDS on Compulsory Acquisation of
Capital Assets):
●Rate: @ 5%
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●Section 194LC (TDS on Interest from Indian
Company to NR or Foreign Company):
●Rate: @ 5%
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Due Dates
●TDS Payment: (Rule 30(1))
●TDS Return:
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TDS PAYMENTS
● Challan: in challan no. 281
● Only online payment to be made
● TDS on Property to be paid along with Return in
Form 26QB (within 7th day of the following month)
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Return Filing
● Return can only be made electronic form as per
scheme launched in 2003.
● RPU (Return preparer utility is made available by
NSDL for processing of TDS Return)
● Based on RPU, a number of software are available
in market for processing of Return such as compu-
TDS
● FVU (File Validation Utility) file generated from the
software/ utility to be submitted to TIN-FC alongwith
Verification Form (Form 27A)
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List of Form used in Return
● Form 24Q-Salary
● Form 26Q- Non Salary
● Form 26QB- TDS on Property
● Form 27Q- Other than Salary to Non Resident
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TDS CERTIFICATE
● Form 16- Salary
● Form 16A- Non Salary
● Form 16B- TDS on Property
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Fees/ Interest/ Penalty
● For Return Filing/uploading at NSDL:
● Upto 100 entries:- RS. 35
● Upto 1000 entries:- Rs. 200
● More than 1000 entries:- 600
● For late payment of TDS:- 1.5 % p.m
● For late filing of TDS Return:-
● Rs. 200 per day or
● Amount equal to TDS amount in the quarter
● Whichever is lower
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