Date post: | 26-Dec-2015 |
Category: |
Documents |
Upload: | shivashankari86 |
View: | 505 times |
Download: | 0 times |
TDS RATE CHART FY 2014-15 AY 2015-16 TDS DUE DATES
on Monday August 4 2014
Deduction of Tax at correct rate is very
important for deductor and minor
mistake in deduction leads to penalty
in shape of Interest on late deposit
and dis allowance of Expenses We
have provided the Tax deduction rates
chart (TDS rate chart) for Financial year
2014-15 Minor changes has been
made in TDS rates for FY 2014-15 by
Finance Minister in Budget
1 A new section 194DA has been
inserted wef 01102014 relating to
payment in respect of life insurance
policy
2 TDS us section194A the interest income payable by special purpose vehicle to a business
trust has been withdrawn wef 01102014
3 TDS us 194LBA for income distributed us 115UA TDS is required to be deducted on 10
in case of resident and 5 in case of payment to non resident
4 Disallowance of expenses under section 40(a)(ia) has been extended to all sections of TDS
However Disallowance has been reduced to 30 from earlier 100 Means if tds has not
been deducted and deposited on 100 Rs then only 30 Rs will be disallowed in that year
Further disallowed amount will be allowed as expin year in which tds has will be deducted amp
Paid
Complete details Of TDS rate changes for financial year 2014-15 Tcs rate changes Due date
to deposit TDS Due date for Form 16 Due date for Form 16A Due date for ETDS return Form
24QPenalty and interest provision for late deposit of TDS consequences for default in filing
of Etds Return TDS rate applicable in case of Non submission of PAN TDS rate applicable on
service tax or not on job work or not which rate is applicable to individual HUF who
should deduct TDS who should not deduct tds whether tds should be deducted on service
tax on rent or professional services all such topics has been covered here under
If there are any mistakes errors then please point out this in comment section(Last updated
05082014)
TDS Rate Chart Financial Year 2014-15
Nature of Payment Made To
Residents
Threshold(Rs) Company
Firm Co-
operative
Society
Local
Authority
Individual
HUF
If No
Invalid
PAN
Section - Description Rate () Rate () Rate
()
192 - Salaries - NA Average
rates
30
193 - Interest on securities - 10 10 20
194 - Dividends - 10 10 20
194A - Interest other than 5000 10 10 20
SNAPDEAL GRAND DIWALI SALE BUY NOW
Custom Search
Search
KNOW YOUR PANVERIFY PANNAME BYPANPAN CARD STATUS ONLINE
KNOW DEALERS DETAIL BY TIN (VAT)NUMBER OR BY NAME
Relief US 89(1) On Gratuity Received In FY2010-11
TDS RATE CHART FY 2014-15 AY 2015-16 TDSDUE DATES
Companies Bill 2011- Major Highlights
ABATEMENT RATE IN SERVICES TAXAMENDED WEF 01072012 NT 20 DT 200612
SUBSCRIBE FREE EMAIL JOIN OUR COMMUNITY
POPULAR POSTS
TDS Rates TDS on Salary TDS Return TDS Challan
Email address Submit
1
2
3
4
5
6
interest on securities -
Others
194A - Banks 10000 10 10 20
194B - Winning from
Lotteries
10000 30 30 30
194BB - Winnings from
Horse Race
5000 30 30 30
194 C - Payment to
Contractors
- Payment to Contractor -
Single Transaction
30000 2 1 20
- Payment to Contractor -
Aggregate During the FY
75000 2 1 20
- Contract - Transporter
who has provided validPAN
- - - 20
194D - InsuranceCommission
20000 10 10 20
194DA-Pament of TaxableLife Insurance Policy wef
01102014
100000 2 2 20
194E - Payment to Non-
Resident Sportsmen or
Sports Association
- Applicable up to June 302012
- 10 10 20
- Applicable from July 12012
- 20 20 20
194EE - Payments out ofdeposits under NSS
2500 20 - 20
194F - Repurchase Units byMFs
1000 20 20 20
194G - Commission -Lottery
1000 10 10 20
194H - Commission Brokerage
5000 10 10 20
194I - Rent - Land andBuilding
180000 10 10 20
194I - Rent - Plant
Machinery
180000 2 2 20
194J - Professional Fees 30000 10 10 20
194LA - Immovable Property 100000 10 10 20
194LB - Income by way of
interest from infrastructuredebt fund (non-resident)
- 5 5 20
194LBA Income paid Under
section 115UA we f
01102014
Resident - 10 10 20
Non resident - 5 5 20
Sec 194 LC - Income by way
of interest by an Indian
specified company to anon-resident foreign
company on foreign
currency approved loan
long-term infrastructurebonds from outside India
(applicable from July 1
2012)
- 5 5 20
195 - Other Sums - Averagerates
- 20
196B - Income from units 10 10 20
196C-Income from foreign - 10 10 20
KNOW YOUR PAN NAME VERIFY PAN FREECHECK NAME BY PAN
No Change In Repo Reverse Repo Rates SLRReduced By 050 Bi-Monthly Monetary PolicyStatement 2014-15
New Categories Of Directors UnderCompanies Act 2013
Service Tax On Renting Of ImmovableProperty Developments And Issues
November (2) October (39)
September (50)
Aug 30 (2) Aug 28 (3)
Aug 27 (2) Aug 26 (2)
Aug 25 (1) Aug 23 (2)
Aug 21 (4) Aug 20 (2)
Aug 18 (3) Aug 17 (1)
Aug 14 (1) Aug 13 (1)
Aug 12 (3) Aug 10 (4)
Aug 09 (1) Aug 08 (3)
Aug 07 (1) Aug 06 (2)
TDS RATE CHART FY 2014-15 AY2015-16 TDS DUE DATES
New Categories of Directors underCompanies Act 20
Due dates August 2014 TDS ServiceTax Excise DVAT
How To create EPF UAN KYC bulkText File-Download
Aug 04 (4)
Aug 03 (1) Aug 02 (3)
Aug 01 (1)
August (47)
July (86) June (45) May (21)
April (34) March (36)
February (35) January (35)
2014 (430)
2013 (422) 2012 (540) 2011 (462)
2010 (407) 2009 (127) 2008 (90)
2007 (53)
BLOG ARCHIVE
7
8
9
10
currency bonds or GDR
(including long-term capitalgains on transfer of such
bonds) (not being dividend)
196D - Income of FIIs from
securities
20 20 20 20
Note
1 No TDS on service Tax As per circular 012014 dated 13012014 TDS is not applicable onservice tax part if service tax is shown separately
2 TDS at higher rate ie 20 has to be deducted if the deductee does not provide PAN to
the deductor(read detail us 206AA)
3 No TDS on Goods Transport No deduction shall be made from any sum credited or paidor likely to be credited or paid during the previous year to the account of a contractor during
the course of business of plying hiring or leasing goods carriages on furnishing of his Permanent
Account Number to the person paying or crediting such sum(read details here No TDS on
Goods Transport )4 Surcharge on tax is not deductiblecollectible at source in case of resident individual HUF
Firm AOP BOIDomestic Company in respect of payment of income other than salary
5 Surcharge on TDS is applicable on payment made to non resident other than company if
payment is in excess of one crore(10 )6 Surcharge on TDS on salary is applicable if taxable salary is more than one crore 10
7 In the case of Company other than Domestic Company
(i) at the rate of two per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds one crore rupees but does not
exceed ten crore rupees
(ii) at the rate of five per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds ten crore rupees
8 No Cess on payment made to resident Education Cess is not deductiblecollectible at
source in case of resident IndividualHUFFirm AOP BOI Domestic Company in respect ofpayment of income other than salaryEducation Cess 2 plus secondary amp Higher
Education Cess 1 is deductible at source in case of non-residents and foreign company
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Various situations and Surcharge Cess applicable on TDSTCS
Payment to payment Surcharge Cess
Resident Non-corporate
salary(up to 1crore)
No yes(3)
Non-corporate
salary(gt I crore) yes (10) yes (3)
Non-
corporate
other than salary No No
Corporate other than salary No No
Non-
Resident
Non-
corporate
salary(up to 1
crore)
No yes (3)
Non-corporate
salary(gt I crore) Yes (10 ) yes (3)
Non-
corporate
other than salary
up to 1 Crore
No yes (3)
Corporate other than salary
(gt 1 Crore to 10
crore)
yes(2) yes (3)
Corporate other than salarygt 10 Crore
yes(5) yes (3)
TDS by Individual and HUF (Non Audit) case not deductible
An Individual or a Hindu Undivided Family whose total sales gross receipts or turnover from business orprofession carried on by him does not exceeds the monetary limits(Rs10000000 in case of business amp
Rs2500000 in case of profession) under Clause (a) or (b) of Sec44AB during the immediately
preceding financial year shall not be liable to deduct tax us194A194C 194H 194I amp 194JSo no
tax is deductible by HUFIndividual in first year of operations of business even salesFees is more than
10025 Lakh
TCS (tax collection at source rates Fy 2014015)(read more details by Tax collection at source)
TCS Rates for F Y 2014-15
Section Nature of Payment
F Y 2014-15
Individual
HUF
Other
206C Scrap 1 1
206C Tendu Leaves 5 5
206C Timber obtained under a forest lease
or other mode
25 25
206C Any other forest produce not being a
timber or tendu leave
25 25
206C Alcoholic Liquor for human
consumption
1 1
206C Parking Lot toll plaza mining and
quarrying
2 2
206C Minerals being coal or lignite or iron
ore (applicable from July 1 2012)
1 1
206C Bullion if consideration (excluding any
coin article weighting 10 grams or
less) exceeds Rs 2 Lakhs or jewellery
if consideration exceeds Rs 5 Lakhs
(and any amount is received in cash)
(applicable from July 1 2012)
1 1
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Due date to Deposit TDS and TCS
ldquoTime and mode of payment to Government account of tax deducted at source or tax paid
under sub section (1A) of section 192
Rule 30
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the
Government shall be paid to the credit of the Central Government ‐
(a) on the same day where the tax is paid without production of an income‐tax challan and
(b) on or before seven days from the end of the month in which the deduction is made or
income‐tax is due under sub‐section (1A) of section 192 where tax is paid accompanied by an
income‐tax challan
Tax to be deductedcollected by Govt Office
1 Tax deposited w ithout challan Same day
2 Tax deposited w ith challan 7th of next month
3 Tax on perquisites opt to be
deposited by the employer
7th of next month
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other
than an office of the Government shall be paid to the credit of the Central Government ‐
(a) on or before 30th day of April where the income or amount is credited or paid in the
month of March and
(b) in any other case on or before seven days from the end of the month in which‐ the
deduction is made or income‐tax is due under sub‐section (1A) of section 192
Tax deductedcollected by other
1 tax deductible in March 30th April of next year
In case of TCS 7th April
2 other months amp tax on perquisites
opted to be deposited by employer
7th of next month
(3) Notwithstanding anything contained in sub‐rule (2) in special cases the Assessing Officer
may with the prior approval of the Joint Commissioner permit quarterly payment of the tax
deducted under section 192 or section 194A or section 194D or section 194H for the quarters
of the financial year specified to in column
(2) of the Table below by the date referred to in column (3) of the said Table‐
SrNo Quarter ended On Date of payment
1 30th June 7th July
2 30the September 7th October
3 31st December 7th January
4 31st March 30Th April
Person required to file ETDS Return Filing due Dates
NOTIFICATION No 2382007 dated 30-8-2007Now following person are liable to file etdsetcs
return
1 All Government departmentoffice or
2 All companies or
3 All person required to get his accounts audited under section 44AB in the immediately preceding
financial year or
4 The number of deducteesrsquo records in a quarterly statement for any quarter of the immediatelypreceding financial year is equal to or more than fifty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
DUTIES OF TAX DEDUCTORCOLLECTOR
1 To apply for Tax Deduction Account Number (TAN) in form 49B in duplicate at the
designated TIN facilitation centers of NSDL(please see wwwincometaxindiagovin) withinone month from the end of the month in which tax was deducted
2 To quote TAN (10 digit reformatted TAN) in all TDSTCS challans certificates statements
and other correspondence
3 To deductcollect tax at the prescribed rates at the time of every credit or payment whichever
is earlier in respect of all liable transactions
4 To remit the tax deductedcollected within the prescribed due dates by using challan no ITNS
281 by quoting the TAN and relevant section of the Income-tax Act
5 To issue TDSTCS certificate complete in all respects within the prescribed time in FormNo16(TDS on salaries) 16A(other TDS) 27D( TCS)
6 To file TDSTCS quarterly statements within the due date
7 To mention PAN of all deductees in the TDSTCS quarterly statements
CONSEQUENCES OF DEFAULT
Failure to deduct or remit TDS TCS(full or part)
InterestInterest at the rates in force (12 pa) from the date on which tax was deductiblecollectible to the date of payment to Government Account is chargeable The Finance Act 2010
amended interest rate wef 01072010 and created a separate class of default in respect of tax
deducted but not paid to levy interest at a higher rate of 15 per cent per month ie 18 per cent pa
as against 1 per cent pm ie 12 per cent pa applicable in case the tax is deducted late after the
due date The rationale behind this amendment is that the tax once deducted belongs to the
government and the person withholding the same needs to be penalized by charging higher rate of
interest Penalty equal to the tax that was failed to be deductedcollected or remitted is leviable
In case of failure to remit the tax deductedcollected rigorous imprisonment ranging from 3 months to
7 years and fine can be levied
Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of
TAN Penalty of Rs10000 is leviable us272BB(for each failure)
Failure to issue TDSTCS certificate in time or Failure to submit form 15H15G in time
or Failure to furnish statement of perquisites in time or Failure to file Quarterly Statements in
time For each type of failure penalty of Rs200- per day for the period of default is leviable
Maximum penalty for each failure can be up to the amount of TDSTCS
New Section for Penalty for non submission of ETDS ETDS return (section 271H)(applicable
from 01072012)
Failure to deliver statement within time prescribed us 200 (3) or to the proviso to sub-section (3) of
section 206C may liable to penalty which shall not be less than Rs 10000- but which may extend to
Rs 100000- No penalty if payment of tax deducted or collected along with fee or interest
and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for
delivering the such statement However No penalty shall be imposed us 271H if the person proves
that there was reasonable cause for the failure(section 273B)
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
interest on securities -
Others
194A - Banks 10000 10 10 20
194B - Winning from
Lotteries
10000 30 30 30
194BB - Winnings from
Horse Race
5000 30 30 30
194 C - Payment to
Contractors
- Payment to Contractor -
Single Transaction
30000 2 1 20
- Payment to Contractor -
Aggregate During the FY
75000 2 1 20
- Contract - Transporter
who has provided validPAN
- - - 20
194D - InsuranceCommission
20000 10 10 20
194DA-Pament of TaxableLife Insurance Policy wef
01102014
100000 2 2 20
194E - Payment to Non-
Resident Sportsmen or
Sports Association
- Applicable up to June 302012
- 10 10 20
- Applicable from July 12012
- 20 20 20
194EE - Payments out ofdeposits under NSS
2500 20 - 20
194F - Repurchase Units byMFs
1000 20 20 20
194G - Commission -Lottery
1000 10 10 20
194H - Commission Brokerage
5000 10 10 20
194I - Rent - Land andBuilding
180000 10 10 20
194I - Rent - Plant
Machinery
180000 2 2 20
194J - Professional Fees 30000 10 10 20
194LA - Immovable Property 100000 10 10 20
194LB - Income by way of
interest from infrastructuredebt fund (non-resident)
- 5 5 20
194LBA Income paid Under
section 115UA we f
01102014
Resident - 10 10 20
Non resident - 5 5 20
Sec 194 LC - Income by way
of interest by an Indian
specified company to anon-resident foreign
company on foreign
currency approved loan
long-term infrastructurebonds from outside India
(applicable from July 1
2012)
- 5 5 20
195 - Other Sums - Averagerates
- 20
196B - Income from units 10 10 20
196C-Income from foreign - 10 10 20
KNOW YOUR PAN NAME VERIFY PAN FREECHECK NAME BY PAN
No Change In Repo Reverse Repo Rates SLRReduced By 050 Bi-Monthly Monetary PolicyStatement 2014-15
New Categories Of Directors UnderCompanies Act 2013
Service Tax On Renting Of ImmovableProperty Developments And Issues
November (2) October (39)
September (50)
Aug 30 (2) Aug 28 (3)
Aug 27 (2) Aug 26 (2)
Aug 25 (1) Aug 23 (2)
Aug 21 (4) Aug 20 (2)
Aug 18 (3) Aug 17 (1)
Aug 14 (1) Aug 13 (1)
Aug 12 (3) Aug 10 (4)
Aug 09 (1) Aug 08 (3)
Aug 07 (1) Aug 06 (2)
TDS RATE CHART FY 2014-15 AY2015-16 TDS DUE DATES
New Categories of Directors underCompanies Act 20
Due dates August 2014 TDS ServiceTax Excise DVAT
How To create EPF UAN KYC bulkText File-Download
Aug 04 (4)
Aug 03 (1) Aug 02 (3)
Aug 01 (1)
August (47)
July (86) June (45) May (21)
April (34) March (36)
February (35) January (35)
2014 (430)
2013 (422) 2012 (540) 2011 (462)
2010 (407) 2009 (127) 2008 (90)
2007 (53)
BLOG ARCHIVE
7
8
9
10
currency bonds or GDR
(including long-term capitalgains on transfer of such
bonds) (not being dividend)
196D - Income of FIIs from
securities
20 20 20 20
Note
1 No TDS on service Tax As per circular 012014 dated 13012014 TDS is not applicable onservice tax part if service tax is shown separately
2 TDS at higher rate ie 20 has to be deducted if the deductee does not provide PAN to
the deductor(read detail us 206AA)
3 No TDS on Goods Transport No deduction shall be made from any sum credited or paidor likely to be credited or paid during the previous year to the account of a contractor during
the course of business of plying hiring or leasing goods carriages on furnishing of his Permanent
Account Number to the person paying or crediting such sum(read details here No TDS on
Goods Transport )4 Surcharge on tax is not deductiblecollectible at source in case of resident individual HUF
Firm AOP BOIDomestic Company in respect of payment of income other than salary
5 Surcharge on TDS is applicable on payment made to non resident other than company if
payment is in excess of one crore(10 )6 Surcharge on TDS on salary is applicable if taxable salary is more than one crore 10
7 In the case of Company other than Domestic Company
(i) at the rate of two per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds one crore rupees but does not
exceed ten crore rupees
(ii) at the rate of five per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds ten crore rupees
8 No Cess on payment made to resident Education Cess is not deductiblecollectible at
source in case of resident IndividualHUFFirm AOP BOI Domestic Company in respect ofpayment of income other than salaryEducation Cess 2 plus secondary amp Higher
Education Cess 1 is deductible at source in case of non-residents and foreign company
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Various situations and Surcharge Cess applicable on TDSTCS
Payment to payment Surcharge Cess
Resident Non-corporate
salary(up to 1crore)
No yes(3)
Non-corporate
salary(gt I crore) yes (10) yes (3)
Non-
corporate
other than salary No No
Corporate other than salary No No
Non-
Resident
Non-
corporate
salary(up to 1
crore)
No yes (3)
Non-corporate
salary(gt I crore) Yes (10 ) yes (3)
Non-
corporate
other than salary
up to 1 Crore
No yes (3)
Corporate other than salary
(gt 1 Crore to 10
crore)
yes(2) yes (3)
Corporate other than salarygt 10 Crore
yes(5) yes (3)
TDS by Individual and HUF (Non Audit) case not deductible
An Individual or a Hindu Undivided Family whose total sales gross receipts or turnover from business orprofession carried on by him does not exceeds the monetary limits(Rs10000000 in case of business amp
Rs2500000 in case of profession) under Clause (a) or (b) of Sec44AB during the immediately
preceding financial year shall not be liable to deduct tax us194A194C 194H 194I amp 194JSo no
tax is deductible by HUFIndividual in first year of operations of business even salesFees is more than
10025 Lakh
TCS (tax collection at source rates Fy 2014015)(read more details by Tax collection at source)
TCS Rates for F Y 2014-15
Section Nature of Payment
F Y 2014-15
Individual
HUF
Other
206C Scrap 1 1
206C Tendu Leaves 5 5
206C Timber obtained under a forest lease
or other mode
25 25
206C Any other forest produce not being a
timber or tendu leave
25 25
206C Alcoholic Liquor for human
consumption
1 1
206C Parking Lot toll plaza mining and
quarrying
2 2
206C Minerals being coal or lignite or iron
ore (applicable from July 1 2012)
1 1
206C Bullion if consideration (excluding any
coin article weighting 10 grams or
less) exceeds Rs 2 Lakhs or jewellery
if consideration exceeds Rs 5 Lakhs
(and any amount is received in cash)
(applicable from July 1 2012)
1 1
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Due date to Deposit TDS and TCS
ldquoTime and mode of payment to Government account of tax deducted at source or tax paid
under sub section (1A) of section 192
Rule 30
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the
Government shall be paid to the credit of the Central Government ‐
(a) on the same day where the tax is paid without production of an income‐tax challan and
(b) on or before seven days from the end of the month in which the deduction is made or
income‐tax is due under sub‐section (1A) of section 192 where tax is paid accompanied by an
income‐tax challan
Tax to be deductedcollected by Govt Office
1 Tax deposited w ithout challan Same day
2 Tax deposited w ith challan 7th of next month
3 Tax on perquisites opt to be
deposited by the employer
7th of next month
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other
than an office of the Government shall be paid to the credit of the Central Government ‐
(a) on or before 30th day of April where the income or amount is credited or paid in the
month of March and
(b) in any other case on or before seven days from the end of the month in which‐ the
deduction is made or income‐tax is due under sub‐section (1A) of section 192
Tax deductedcollected by other
1 tax deductible in March 30th April of next year
In case of TCS 7th April
2 other months amp tax on perquisites
opted to be deposited by employer
7th of next month
(3) Notwithstanding anything contained in sub‐rule (2) in special cases the Assessing Officer
may with the prior approval of the Joint Commissioner permit quarterly payment of the tax
deducted under section 192 or section 194A or section 194D or section 194H for the quarters
of the financial year specified to in column
(2) of the Table below by the date referred to in column (3) of the said Table‐
SrNo Quarter ended On Date of payment
1 30th June 7th July
2 30the September 7th October
3 31st December 7th January
4 31st March 30Th April
Person required to file ETDS Return Filing due Dates
NOTIFICATION No 2382007 dated 30-8-2007Now following person are liable to file etdsetcs
return
1 All Government departmentoffice or
2 All companies or
3 All person required to get his accounts audited under section 44AB in the immediately preceding
financial year or
4 The number of deducteesrsquo records in a quarterly statement for any quarter of the immediatelypreceding financial year is equal to or more than fifty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
DUTIES OF TAX DEDUCTORCOLLECTOR
1 To apply for Tax Deduction Account Number (TAN) in form 49B in duplicate at the
designated TIN facilitation centers of NSDL(please see wwwincometaxindiagovin) withinone month from the end of the month in which tax was deducted
2 To quote TAN (10 digit reformatted TAN) in all TDSTCS challans certificates statements
and other correspondence
3 To deductcollect tax at the prescribed rates at the time of every credit or payment whichever
is earlier in respect of all liable transactions
4 To remit the tax deductedcollected within the prescribed due dates by using challan no ITNS
281 by quoting the TAN and relevant section of the Income-tax Act
5 To issue TDSTCS certificate complete in all respects within the prescribed time in FormNo16(TDS on salaries) 16A(other TDS) 27D( TCS)
6 To file TDSTCS quarterly statements within the due date
7 To mention PAN of all deductees in the TDSTCS quarterly statements
CONSEQUENCES OF DEFAULT
Failure to deduct or remit TDS TCS(full or part)
InterestInterest at the rates in force (12 pa) from the date on which tax was deductiblecollectible to the date of payment to Government Account is chargeable The Finance Act 2010
amended interest rate wef 01072010 and created a separate class of default in respect of tax
deducted but not paid to levy interest at a higher rate of 15 per cent per month ie 18 per cent pa
as against 1 per cent pm ie 12 per cent pa applicable in case the tax is deducted late after the
due date The rationale behind this amendment is that the tax once deducted belongs to the
government and the person withholding the same needs to be penalized by charging higher rate of
interest Penalty equal to the tax that was failed to be deductedcollected or remitted is leviable
In case of failure to remit the tax deductedcollected rigorous imprisonment ranging from 3 months to
7 years and fine can be levied
Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of
TAN Penalty of Rs10000 is leviable us272BB(for each failure)
Failure to issue TDSTCS certificate in time or Failure to submit form 15H15G in time
or Failure to furnish statement of perquisites in time or Failure to file Quarterly Statements in
time For each type of failure penalty of Rs200- per day for the period of default is leviable
Maximum penalty for each failure can be up to the amount of TDSTCS
New Section for Penalty for non submission of ETDS ETDS return (section 271H)(applicable
from 01072012)
Failure to deliver statement within time prescribed us 200 (3) or to the proviso to sub-section (3) of
section 206C may liable to penalty which shall not be less than Rs 10000- but which may extend to
Rs 100000- No penalty if payment of tax deducted or collected along with fee or interest
and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for
delivering the such statement However No penalty shall be imposed us 271H if the person proves
that there was reasonable cause for the failure(section 273B)
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
currency bonds or GDR
(including long-term capitalgains on transfer of such
bonds) (not being dividend)
196D - Income of FIIs from
securities
20 20 20 20
Note
1 No TDS on service Tax As per circular 012014 dated 13012014 TDS is not applicable onservice tax part if service tax is shown separately
2 TDS at higher rate ie 20 has to be deducted if the deductee does not provide PAN to
the deductor(read detail us 206AA)
3 No TDS on Goods Transport No deduction shall be made from any sum credited or paidor likely to be credited or paid during the previous year to the account of a contractor during
the course of business of plying hiring or leasing goods carriages on furnishing of his Permanent
Account Number to the person paying or crediting such sum(read details here No TDS on
Goods Transport )4 Surcharge on tax is not deductiblecollectible at source in case of resident individual HUF
Firm AOP BOIDomestic Company in respect of payment of income other than salary
5 Surcharge on TDS is applicable on payment made to non resident other than company if
payment is in excess of one crore(10 )6 Surcharge on TDS on salary is applicable if taxable salary is more than one crore 10
7 In the case of Company other than Domestic Company
(i) at the rate of two per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds one crore rupees but does not
exceed ten crore rupees
(ii) at the rate of five per cent of such tax where the amount or the aggregate of such
amounts collected and subject to the collection exceeds ten crore rupees
8 No Cess on payment made to resident Education Cess is not deductiblecollectible at
source in case of resident IndividualHUFFirm AOP BOI Domestic Company in respect ofpayment of income other than salaryEducation Cess 2 plus secondary amp Higher
Education Cess 1 is deductible at source in case of non-residents and foreign company
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Various situations and Surcharge Cess applicable on TDSTCS
Payment to payment Surcharge Cess
Resident Non-corporate
salary(up to 1crore)
No yes(3)
Non-corporate
salary(gt I crore) yes (10) yes (3)
Non-
corporate
other than salary No No
Corporate other than salary No No
Non-
Resident
Non-
corporate
salary(up to 1
crore)
No yes (3)
Non-corporate
salary(gt I crore) Yes (10 ) yes (3)
Non-
corporate
other than salary
up to 1 Crore
No yes (3)
Corporate other than salary
(gt 1 Crore to 10
crore)
yes(2) yes (3)
Corporate other than salarygt 10 Crore
yes(5) yes (3)
TDS by Individual and HUF (Non Audit) case not deductible
An Individual or a Hindu Undivided Family whose total sales gross receipts or turnover from business orprofession carried on by him does not exceeds the monetary limits(Rs10000000 in case of business amp
Rs2500000 in case of profession) under Clause (a) or (b) of Sec44AB during the immediately
preceding financial year shall not be liable to deduct tax us194A194C 194H 194I amp 194JSo no
tax is deductible by HUFIndividual in first year of operations of business even salesFees is more than
10025 Lakh
TCS (tax collection at source rates Fy 2014015)(read more details by Tax collection at source)
TCS Rates for F Y 2014-15
Section Nature of Payment
F Y 2014-15
Individual
HUF
Other
206C Scrap 1 1
206C Tendu Leaves 5 5
206C Timber obtained under a forest lease
or other mode
25 25
206C Any other forest produce not being a
timber or tendu leave
25 25
206C Alcoholic Liquor for human
consumption
1 1
206C Parking Lot toll plaza mining and
quarrying
2 2
206C Minerals being coal or lignite or iron
ore (applicable from July 1 2012)
1 1
206C Bullion if consideration (excluding any
coin article weighting 10 grams or
less) exceeds Rs 2 Lakhs or jewellery
if consideration exceeds Rs 5 Lakhs
(and any amount is received in cash)
(applicable from July 1 2012)
1 1
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Due date to Deposit TDS and TCS
ldquoTime and mode of payment to Government account of tax deducted at source or tax paid
under sub section (1A) of section 192
Rule 30
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the
Government shall be paid to the credit of the Central Government ‐
(a) on the same day where the tax is paid without production of an income‐tax challan and
(b) on or before seven days from the end of the month in which the deduction is made or
income‐tax is due under sub‐section (1A) of section 192 where tax is paid accompanied by an
income‐tax challan
Tax to be deductedcollected by Govt Office
1 Tax deposited w ithout challan Same day
2 Tax deposited w ith challan 7th of next month
3 Tax on perquisites opt to be
deposited by the employer
7th of next month
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other
than an office of the Government shall be paid to the credit of the Central Government ‐
(a) on or before 30th day of April where the income or amount is credited or paid in the
month of March and
(b) in any other case on or before seven days from the end of the month in which‐ the
deduction is made or income‐tax is due under sub‐section (1A) of section 192
Tax deductedcollected by other
1 tax deductible in March 30th April of next year
In case of TCS 7th April
2 other months amp tax on perquisites
opted to be deposited by employer
7th of next month
(3) Notwithstanding anything contained in sub‐rule (2) in special cases the Assessing Officer
may with the prior approval of the Joint Commissioner permit quarterly payment of the tax
deducted under section 192 or section 194A or section 194D or section 194H for the quarters
of the financial year specified to in column
(2) of the Table below by the date referred to in column (3) of the said Table‐
SrNo Quarter ended On Date of payment
1 30th June 7th July
2 30the September 7th October
3 31st December 7th January
4 31st March 30Th April
Person required to file ETDS Return Filing due Dates
NOTIFICATION No 2382007 dated 30-8-2007Now following person are liable to file etdsetcs
return
1 All Government departmentoffice or
2 All companies or
3 All person required to get his accounts audited under section 44AB in the immediately preceding
financial year or
4 The number of deducteesrsquo records in a quarterly statement for any quarter of the immediatelypreceding financial year is equal to or more than fifty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
DUTIES OF TAX DEDUCTORCOLLECTOR
1 To apply for Tax Deduction Account Number (TAN) in form 49B in duplicate at the
designated TIN facilitation centers of NSDL(please see wwwincometaxindiagovin) withinone month from the end of the month in which tax was deducted
2 To quote TAN (10 digit reformatted TAN) in all TDSTCS challans certificates statements
and other correspondence
3 To deductcollect tax at the prescribed rates at the time of every credit or payment whichever
is earlier in respect of all liable transactions
4 To remit the tax deductedcollected within the prescribed due dates by using challan no ITNS
281 by quoting the TAN and relevant section of the Income-tax Act
5 To issue TDSTCS certificate complete in all respects within the prescribed time in FormNo16(TDS on salaries) 16A(other TDS) 27D( TCS)
6 To file TDSTCS quarterly statements within the due date
7 To mention PAN of all deductees in the TDSTCS quarterly statements
CONSEQUENCES OF DEFAULT
Failure to deduct or remit TDS TCS(full or part)
InterestInterest at the rates in force (12 pa) from the date on which tax was deductiblecollectible to the date of payment to Government Account is chargeable The Finance Act 2010
amended interest rate wef 01072010 and created a separate class of default in respect of tax
deducted but not paid to levy interest at a higher rate of 15 per cent per month ie 18 per cent pa
as against 1 per cent pm ie 12 per cent pa applicable in case the tax is deducted late after the
due date The rationale behind this amendment is that the tax once deducted belongs to the
government and the person withholding the same needs to be penalized by charging higher rate of
interest Penalty equal to the tax that was failed to be deductedcollected or remitted is leviable
In case of failure to remit the tax deductedcollected rigorous imprisonment ranging from 3 months to
7 years and fine can be levied
Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of
TAN Penalty of Rs10000 is leviable us272BB(for each failure)
Failure to issue TDSTCS certificate in time or Failure to submit form 15H15G in time
or Failure to furnish statement of perquisites in time or Failure to file Quarterly Statements in
time For each type of failure penalty of Rs200- per day for the period of default is leviable
Maximum penalty for each failure can be up to the amount of TDSTCS
New Section for Penalty for non submission of ETDS ETDS return (section 271H)(applicable
from 01072012)
Failure to deliver statement within time prescribed us 200 (3) or to the proviso to sub-section (3) of
section 206C may liable to penalty which shall not be less than Rs 10000- but which may extend to
Rs 100000- No penalty if payment of tax deducted or collected along with fee or interest
and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for
delivering the such statement However No penalty shall be imposed us 271H if the person proves
that there was reasonable cause for the failure(section 273B)
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
TCS Rates for F Y 2014-15
Section Nature of Payment
F Y 2014-15
Individual
HUF
Other
206C Scrap 1 1
206C Tendu Leaves 5 5
206C Timber obtained under a forest lease
or other mode
25 25
206C Any other forest produce not being a
timber or tendu leave
25 25
206C Alcoholic Liquor for human
consumption
1 1
206C Parking Lot toll plaza mining and
quarrying
2 2
206C Minerals being coal or lignite or iron
ore (applicable from July 1 2012)
1 1
206C Bullion if consideration (excluding any
coin article weighting 10 grams or
less) exceeds Rs 2 Lakhs or jewellery
if consideration exceeds Rs 5 Lakhs
(and any amount is received in cash)
(applicable from July 1 2012)
1 1
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
Due date to Deposit TDS and TCS
ldquoTime and mode of payment to Government account of tax deducted at source or tax paid
under sub section (1A) of section 192
Rule 30
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the
Government shall be paid to the credit of the Central Government ‐
(a) on the same day where the tax is paid without production of an income‐tax challan and
(b) on or before seven days from the end of the month in which the deduction is made or
income‐tax is due under sub‐section (1A) of section 192 where tax is paid accompanied by an
income‐tax challan
Tax to be deductedcollected by Govt Office
1 Tax deposited w ithout challan Same day
2 Tax deposited w ith challan 7th of next month
3 Tax on perquisites opt to be
deposited by the employer
7th of next month
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other
than an office of the Government shall be paid to the credit of the Central Government ‐
(a) on or before 30th day of April where the income or amount is credited or paid in the
month of March and
(b) in any other case on or before seven days from the end of the month in which‐ the
deduction is made or income‐tax is due under sub‐section (1A) of section 192
Tax deductedcollected by other
1 tax deductible in March 30th April of next year
In case of TCS 7th April
2 other months amp tax on perquisites
opted to be deposited by employer
7th of next month
(3) Notwithstanding anything contained in sub‐rule (2) in special cases the Assessing Officer
may with the prior approval of the Joint Commissioner permit quarterly payment of the tax
deducted under section 192 or section 194A or section 194D or section 194H for the quarters
of the financial year specified to in column
(2) of the Table below by the date referred to in column (3) of the said Table‐
SrNo Quarter ended On Date of payment
1 30th June 7th July
2 30the September 7th October
3 31st December 7th January
4 31st March 30Th April
Person required to file ETDS Return Filing due Dates
NOTIFICATION No 2382007 dated 30-8-2007Now following person are liable to file etdsetcs
return
1 All Government departmentoffice or
2 All companies or
3 All person required to get his accounts audited under section 44AB in the immediately preceding
financial year or
4 The number of deducteesrsquo records in a quarterly statement for any quarter of the immediatelypreceding financial year is equal to or more than fifty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
DUTIES OF TAX DEDUCTORCOLLECTOR
1 To apply for Tax Deduction Account Number (TAN) in form 49B in duplicate at the
designated TIN facilitation centers of NSDL(please see wwwincometaxindiagovin) withinone month from the end of the month in which tax was deducted
2 To quote TAN (10 digit reformatted TAN) in all TDSTCS challans certificates statements
and other correspondence
3 To deductcollect tax at the prescribed rates at the time of every credit or payment whichever
is earlier in respect of all liable transactions
4 To remit the tax deductedcollected within the prescribed due dates by using challan no ITNS
281 by quoting the TAN and relevant section of the Income-tax Act
5 To issue TDSTCS certificate complete in all respects within the prescribed time in FormNo16(TDS on salaries) 16A(other TDS) 27D( TCS)
6 To file TDSTCS quarterly statements within the due date
7 To mention PAN of all deductees in the TDSTCS quarterly statements
CONSEQUENCES OF DEFAULT
Failure to deduct or remit TDS TCS(full or part)
InterestInterest at the rates in force (12 pa) from the date on which tax was deductiblecollectible to the date of payment to Government Account is chargeable The Finance Act 2010
amended interest rate wef 01072010 and created a separate class of default in respect of tax
deducted but not paid to levy interest at a higher rate of 15 per cent per month ie 18 per cent pa
as against 1 per cent pm ie 12 per cent pa applicable in case the tax is deducted late after the
due date The rationale behind this amendment is that the tax once deducted belongs to the
government and the person withholding the same needs to be penalized by charging higher rate of
interest Penalty equal to the tax that was failed to be deductedcollected or remitted is leviable
In case of failure to remit the tax deductedcollected rigorous imprisonment ranging from 3 months to
7 years and fine can be levied
Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of
TAN Penalty of Rs10000 is leviable us272BB(for each failure)
Failure to issue TDSTCS certificate in time or Failure to submit form 15H15G in time
or Failure to furnish statement of perquisites in time or Failure to file Quarterly Statements in
time For each type of failure penalty of Rs200- per day for the period of default is leviable
Maximum penalty for each failure can be up to the amount of TDSTCS
New Section for Penalty for non submission of ETDS ETDS return (section 271H)(applicable
from 01072012)
Failure to deliver statement within time prescribed us 200 (3) or to the proviso to sub-section (3) of
section 206C may liable to penalty which shall not be less than Rs 10000- but which may extend to
Rs 100000- No penalty if payment of tax deducted or collected along with fee or interest
and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for
delivering the such statement However No penalty shall be imposed us 271H if the person proves
that there was reasonable cause for the failure(section 273B)
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
may with the prior approval of the Joint Commissioner permit quarterly payment of the tax
deducted under section 192 or section 194A or section 194D or section 194H for the quarters
of the financial year specified to in column
(2) of the Table below by the date referred to in column (3) of the said Table‐
SrNo Quarter ended On Date of payment
1 30th June 7th July
2 30the September 7th October
3 31st December 7th January
4 31st March 30Th April
Person required to file ETDS Return Filing due Dates
NOTIFICATION No 2382007 dated 30-8-2007Now following person are liable to file etdsetcs
return
1 All Government departmentoffice or
2 All companies or
3 All person required to get his accounts audited under section 44AB in the immediately preceding
financial year or
4 The number of deducteesrsquo records in a quarterly statement for any quarter of the immediatelypreceding financial year is equal to or more than fifty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
DUTIES OF TAX DEDUCTORCOLLECTOR
1 To apply for Tax Deduction Account Number (TAN) in form 49B in duplicate at the
designated TIN facilitation centers of NSDL(please see wwwincometaxindiagovin) withinone month from the end of the month in which tax was deducted
2 To quote TAN (10 digit reformatted TAN) in all TDSTCS challans certificates statements
and other correspondence
3 To deductcollect tax at the prescribed rates at the time of every credit or payment whichever
is earlier in respect of all liable transactions
4 To remit the tax deductedcollected within the prescribed due dates by using challan no ITNS
281 by quoting the TAN and relevant section of the Income-tax Act
5 To issue TDSTCS certificate complete in all respects within the prescribed time in FormNo16(TDS on salaries) 16A(other TDS) 27D( TCS)
6 To file TDSTCS quarterly statements within the due date
7 To mention PAN of all deductees in the TDSTCS quarterly statements
CONSEQUENCES OF DEFAULT
Failure to deduct or remit TDS TCS(full or part)
InterestInterest at the rates in force (12 pa) from the date on which tax was deductiblecollectible to the date of payment to Government Account is chargeable The Finance Act 2010
amended interest rate wef 01072010 and created a separate class of default in respect of tax
deducted but not paid to levy interest at a higher rate of 15 per cent per month ie 18 per cent pa
as against 1 per cent pm ie 12 per cent pa applicable in case the tax is deducted late after the
due date The rationale behind this amendment is that the tax once deducted belongs to the
government and the person withholding the same needs to be penalized by charging higher rate of
interest Penalty equal to the tax that was failed to be deductedcollected or remitted is leviable
In case of failure to remit the tax deductedcollected rigorous imprisonment ranging from 3 months to
7 years and fine can be levied
Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of
TAN Penalty of Rs10000 is leviable us272BB(for each failure)
Failure to issue TDSTCS certificate in time or Failure to submit form 15H15G in time
or Failure to furnish statement of perquisites in time or Failure to file Quarterly Statements in
time For each type of failure penalty of Rs200- per day for the period of default is leviable
Maximum penalty for each failure can be up to the amount of TDSTCS
New Section for Penalty for non submission of ETDS ETDS return (section 271H)(applicable
from 01072012)
Failure to deliver statement within time prescribed us 200 (3) or to the proviso to sub-section (3) of
section 206C may liable to penalty which shall not be less than Rs 10000- but which may extend to
Rs 100000- No penalty if payment of tax deducted or collected along with fee or interest
and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for
delivering the such statement However No penalty shall be imposed us 271H if the person proves
that there was reasonable cause for the failure(section 273B)
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
Assessee In default (amendment in section 201)
The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his
return us 139 and has taken into account such amount for computing income in such Return of Incomeand has paid the Tax Due on the income declared by him in such return of income and furnishes a
certificate to this effect duly certified by a CA in the prescribed form This form is yet to be notified
However the interest for not deducting tax would be payable from the date on which such tax
was collectible till the date of furnishing of return of income by the resident payee
The limit of passing orders under section 201(1) increased from 2 years to 6 years
(retrospective amendment wef 1-04-2010)
Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others 27Q for
Non-resident
Due date ETDS return 24Q 26Q 27Q and Form16 Form 16A
Sl
No
Quarter
ending
From 01112011 on
wards For Govtoffices
For other deductors
Etdsreturn
Form 16A Etdsreturn
Form 16A
1 30th June 31st July 15th
August
15th
July
30th July
2 30thSeptember
31stOctober
15thNovember
15thOctober
30thOctober
3 31st
December
31st
January
15th
Feburary
15th
January
30th
January
4 31stMarch
15thMay
30thMay
(31st May for form16)
15thMay
30thMay
(31st Mayfor form 16)
Download Full Notification 412010right click on link and select save target as or save link as as the
case may be
Issuance Of TDS certificate Form 16 and Form 16A
Tax deducted on or after 01042012 it is mandatory for all type of deductors to issue quarterly form
16A (non salary tds certificate) only after downloaded the same from the TDSCPC website Earlier thiswas mandatory for only companies Banks and co-operative societies engaged in Banking services with
effect from 01042011 through circular number 32011
New forms 16 and 16A performa is available here
Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital
signature only
Though this will be an increase in work load on small traders also but it is welcome step as it willreduce arbitrary demands by department due to mismatching of TDS claimed and TDS shown on form
26AS Moreover small traders are also not small now TDS is to be deducted by HUF and Individualonly if their turnoverReceipt is during the immediately preceding year more than limit prescribed under
section 44AB Present limit for FY 2012-13 is proposed to be increased to 1 crore for business and 25lakh for Professionals
FY 2010-11 FY 2011-12 FY 2012-13 onwards
Download Form 16A
from TDSCPC
(TRACES) Web Site
Optional Mandatory for Companies and
Banks Optional for others
Mandatory for all type
of deductors
Digitally Sign Form
16A
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Optional but only if
downloaded from TDSCPC
(TRACES) Web site
Optional but only if
downloaded from
TDSCPC (TRACES)
Web site
Manually Issue TDS
Certificate(Form 16A)
All deductors can
manually issue TDS
Companies and Banks cannot
manually issue TDS Certificate
No deductor can issue
manually TDS
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
Certificate certificate
Manually Issue TDS
Certificate(Form 16
salary)
All deductors can
manually issue TDS
Certificate
All deductors can manually
issue TDS Certificate
Form 16(PartA) is
mandatory to
downloaded form
TDSCPC website
Part B to be issued
manually
So manually field form 16A cannot be issued for tax deducted on or after 01042012
Update (22042012) Form 16 (Part-A) to be issued mandatory through download from TDSCPC
website (circular 042013 dated 17042013) salary can be issued without downloading from the TDSCPC
(TRACES) site Now you are interested in how you can download Form 16A from TDS CPC (TRACES)
website
Please Note that Form 16A now(01012013) shall be available through new website
wwwtdscpcgovin only Read more from links given below
1 Procedure How to register at TRACES (wwwtdscpcgovin) and
2 How to download Form 16A form TRACES (wwwtdscpcgovin)
3 HOW TO DOWNLAOD FORM16 FROM TDSCPC WEBSITE
GENERAL INFORMATION
1 Deduction at lower or nil rate requires certificate us197 which will take effect from the day itis issued It cannot be used retrospectively
2 If TDSTCS certificate is lost duplicate may be issued on a plain paper giving necessary details
marking it as duplicate3 Refund can be claimed by the deductee on filing of return of income
4 Even if the recipient of payment has shown it in his income-tax return and paid the taxesthereon the deductorcollector who has failed to deductcollect tax will be liable to pay interest
and penalty
UpdateDeductor can adjust excess tds deposited in one section an assessment year with
another section assessment year
Other Point to be Noted1 TDS on Job work(194C) Tds on Job work has been relaxed read new definition us 194C
2 TDS on Cold Storage (194C clarification)3 No TDS on service tax on all section (circular -012014 dated 13012014)
4 TDS on Rent (various circulars by department on tds on rent )
5 Do and Donts Tax deposit of Taxes6 E-payment of TDS mandatory from 01042008
7 E-Payment Auto Filler for Tds Challan 8 E-Payment From Other Banks Account Allowed
9 TDS challan ITNS 281 In excel amp 10 How to Fill TDS CHALLAN-ITNS 28111 How To pay Income TaxTds Online FAQ
12 Nil TDS on Transporter and others to be reported in ETDS quarterly returns13 1 TDS on transfer of property us 194IA wef 01062013
14 TDS on rent section 194-1 brief notes circular notification and case laws15 42 Important points related to TDSTCS deduction and etds return filing
tagsTagstds rate charttds rates financial year 2014-15tds rates ay 2014-15tdscalculatortds deduction raterevised tds ratestds challantds rate contractorsTdsratestds rates 2014-15new tds ratestds rate charttds rate chart 2014-15tds ratenewtds rate charttds on renttds chart 13-14new tds rates 14-15 tds ratetds rate ay 2014-15tds rate after budget 2014tds rate after budgettds rate amendmenttds ratecharttds rate chart 2014-15tds rate chart 2014-15 in excel formattds ratechart 2014-15tds rate chart 13-14tds rate chart for salarytds rate chart from oct2009tds rate chart tds rate chart in exceltds rate chart 14-15 pdftds ratebrokeragetds rate budget 2013tds rate bank interesttds rate for ay 14-15tds rate from01042013tds rate for 2013-14 tds rate for advertisementtds rate for non residenttdsrate for renttds rate for contractorstds rate for professional feestds rate fortransportertds rate for foreign remittancetds rate 2014-15 tds rate assessment year2015-16tds rate agreementtds rate and sectionin tds rate and education cess infinance bill 2014 provisionstds rate detailstds rate detailtds rate indiatds rate inindiatds rate interesttds rate in budget 2014tds rate in delhitds rate in exceltds rate inexcel formattds rate in india 2014current tds rate in indiahow to change tds rate intallytds rate charttds rate chart 2014-15tds rate chart indiatds rate chart incometaxtds rate chart 2014-15india tds rate current yeartds rate chart for 2014-15
Download TDS -TCS rates financial year 2014-15andabove details in PDF format
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
You might also like
3
latest tds rate chart tds rate chart tds rate chart fy 2014-15
Read Comment Policy
Checking Accounts Term life insurance
Tax Rates Calculator
HOW TO CALCULATE TDS ON SALARY FY 2013-14
MICROSOFT EXCEL USEFUL COMMAND GUIDE TIPS SHORT CUTS
TABLE FOR STEP OF INCORPORATION OF COMPANY
SERVICE TAX RATE CHART EXEMPTION LIMIT ABATEMENT RATE CHART REVERSECHARGE CHART
INCOME TAX READY RECKONER amp CALCULATOR FY 2013-14 FOR SALARIED PERSONS
TDS ON PAYMENT TO CONTRACTOR SECTION 194C AT A GLANCE
TDS RATE CHART FY 2013-14 TCS RATE CHART 13-14
SIMPLE INCOME TAX CALCULATOR AFTER BUDGET 2014
INCOME TAX CALCULATOR FOR SALARIED PERSONS FY 2014-15
HOW TO CREATE A MS EXCEL PIVOT TABLE ndash AN INTRODUCTION
Recommended by
12 comments Post Yours
PLEASE NOTE
We have Zero Tolerance to Spam Chessy Comments and Comments with Links will be deleted immediately upon our review
Follow
NEXT
No change in repo reverse repo rates SLR
reduced by 050 Bi-Monthly Monetary
Policy Statement 2014-15
PREVIOUS
New Categories of Directors under
Companies Act 2013
1
2
3
4
5
6
7
8
9
10
1
Saurabh Pandey
August 5 2014 at 905 PM
You have not included section 194IA in your chart
Reply
Satish Kumar M
242
3
4
278
295K
242
3
4
278
0
Tumblr
295K
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
Replies
Replies
August 6 2014 at 742 AM
What section to be applied for the following out-sourcing staff1 Computer Data Entry Operator2 Lecturer permanent3 Lecturer on hourly basis4 Agreement between person firm for supply of man power5 Guest Lecturer
Reply
21
RAJA BABU
August 6 2014 at 1035 AM
1 Computer Data Entry Operator if contract of employment has given then tdscovered under salary section 192 and normal slab rate applicable2 Lecturer permanentCovered under salary3 Lecturer on hourly basis if contract of employment given then covered undersalary4 Agreement between person firm for supply of man powersection 194Cworks contract5 Guest Lecturer 194J professional services
22
Satish Kumar M
August 7 2014 at 816 PM
SirThe above persons are purely out-sourcing not maintaining service register andpayment is making through an simple receipt from the concerned
Please guide in this
23
RAJA BABU
August 7 2014 at 825 PM
Service register maintis not mandatory Nature of Job is importantFirst you have to clarify that which payment you are making salary orprofessional fee or payment for a workthen only tds section can be confirmed
3
Venkat
August 6 2014 at 1029 AM
Dear Sir
We are hiring manpower through an outsourcing agency 7 Commission We are paying thecommission on the sum total of Basic salary + Employer contribution to EPF amp ESI We are paying theService Tax on the total bill amount (inclCommission) My doubt is on the following 2 points
1 Whether the commission to the agency is to be paid only on the Basic salary or including thecontribution of EPF amp ESI
2 Whether the STax is to be paid on the total bill amount or only on the Basic salary amount
Kindly clarify- See more at httptaxguruinchartered-accountantinvitation-to-join-taxguru-in-panel-of-esteemed-authorshtmlcomment-1041965
Reply
RAJA BABU
August 6 2014 at 1039 AM
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
Replies
31 In our view you are doing correct Service tax is to be paid on full amount basicplus epf esi plus commission etc
However manpower services is covered under reverse charge subject to someconditions
4
Satish Kumar M
August 7 2014 at 825 PM
Sir
Please see in the TDS Statement194C- - Contract - Transporter who has provided valid PAN is shown 20If valid pan is exist why 20
Reply
41
RAJA BABU
August 7 2014 at 848 PM
Last column is for pan not given so 20 if transporter does not give pan isapplicable
5
Netheti Jagadeeshwar
August 21 2014 at 410 PM
it is very useful to all the accountants i have no word to say
Reply
6
Khurshid Arfi
September 3 2014 at 452 PM
as per section115A maximum TDS rate is 25 but as per your TDS chart TDS rate is 30 in case ofwithout PAN Us 195 Please explain
Reply
7
deaf_nitin_goyal
September 17 2014 at 152 PM
I have no tax liability but why do banks deduct TDS on FD directly
Reply
HOME BUDGET-14 SALARY ITAX ITR-14-15 DEDUCTIONS TDS HOW TO PAN SERVICE TAX CHALLAN HP CG EXCEL TALLY
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism
Enter your comment
Comment as Google Account
Publish
Preview
The contents of this page are solely forinformational purpose It does not constituteprofessional advice or recommendation ofSimple Tax IndiaAuthor Neither the authorsnor simple tax India and its affiliates acceptsany liabilities for any loss or damage of anykind arising out of any information in thisdocument nor for any actions taken in reliancethereon
Readers are advised to consult theprofessional for understanding applicability ofthis newsletter in the respective scenariosWhile due care has been taken in preparingthis document the existence of mistakes andomissions herein is not ruled out No part ofthis document should be distributed or copied(except for personal non-commercial use)without our written permission
DisclaimerDUE DATE TO FILE ITR AY 14-15
WHICH ITR FORM YOU SHOULD FILE
MANDATORY E FILING FY 13-14
DOWNLOAD ITR FORM FY 13-14
PENALTY ON LATE FILING OF ITR
HOW TO RESET PASSWORD EFILING SITE
87A RS 2000 ADDITIONAL REBATE
Income Tax return Fy 2014-15
Home TDS Rates 13-14 HRA calculation KNOW YOUR PAN KNOW YOU TIN PAN APPLICATION STATUS KNOW YOU EPF BALANCE
Copyright copy 2012 Max Mag Theme Designed by Templateism