Section | Nature of Payment | Threshold Limit of Payment | FY (2014-15) | Form 15G/15H Applicable | |||
192 |
Income from Salary |
Senior Citizen (60 Years) |
Rs. 3,00000 |
Average rate of Tax +edu. Cess Surcharge if Salary > 1 Cr |
|||
Super Senior Citizen (80 Years) |
Rs. 5,00000 | ||||||
Others | Rs. 25,0000 | ||||||
192A | Premature Withdrawal from EPF (wef 01.06.2015) |
Rs. 30000 |
10% | Yes | |||
193 |
Interest on Securities |
Rs. 5000 |
10% | Yes | |||
194A |
Interest from a Banking Company |
Rs. 10,000per annum |
10% | Yes | |||
194A |
Interest other than from a Banking Company |
Rs. 5,000 per annum | 10% | Yes | |||
194B |
Winning from Lotteries & Cross Word Puzzles |
Rs. 10,000 per annum | 30% | - | |||
194BB |
Winning from Horse Races |
Rs. 5,000 per annum |
30% | - | |||
194C |
Transporters with valid PAN & to whom 44AE applicable |
&nb sp; - | 0% | 30% | |||
194DA | Payment under life insurance policy (including Bonus) (wef 1st oct 2014) | Rs.100000 per annum | 2% | - | |||
194C |
Payment to Contractors; Sub-contractor; Advertising Contractors (including other transporters) |
|
Individual/HUF 1% Others 2% | - | |||
194D | Insurance Commision | Rs.20,000 | 10% | - | |||
194DA |
Payment under life insurance policy (including Bonus) |
Rs.100000 per annum |
2% | Yes | |||
194E |
Non-resident Sportman or Sports Association |
- |
20% | - | |||
194EE |
Out of deposit under NSS |
Rs.2500
|
|
Yes | |||
194G |
Commission on Sale of Lottery Tickets |
Rs.1000 |
10% | - | |||
194- I | Rent on Plant / Machinery | Rs. 1,80,000 per annum |
2% | - | |||
194-I |
Land or building or furniture or fitting |
Rs. 1,80,000 per annum |
10% | - | |||
194- IA | Payment or transfer of Non agricultural immovable property | Rs. 50,00,000 & above |
1% | - | |||
194J | Fees for Professional / Technical Services | Rs. 30,000 per annum |
10% | - | |||
194LA |
Compulsory Acquisition of immovable Property | Rs. 2,00,000 | 10% | - | |||
TCS Rates | |||||||
206C |
Scrap |
- |
1% | ||||
206C |
Tendu Leaves |
- |
5% | ||||
206C |
Timber obtained under a forest lease or other mode |
- |
2.50% | ||||
206C |
Any other forest produce not being a Timber or tendu leave |
- |
2.50% | ||||
206C |
Alcoholic Liquor for Human Consumption |
- |
1% | ||||
206C |
Packing lot, toll plaza, mining & quarrying |
- |
2% | ||||
206C | Purchase of Bullion/ Jewellery in cash |
Rs. 2 Lacs per transaction (Bullion) Rs. 5 Lacs per transaction (Jewellery) |
1% | ||||
206C | Purchase of coal lignite, Iron ore by a trader | - | 1% |
Notes | ||||||||||||||||||||||||||||||||
1. Surcharges & Education Cess | ||||||||||||||||||||||||||||||||
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2. Nil rate will be applicable to transporter of goods if he provides his PAN to the deductor. |
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Fees and Penalties |
|
Interest on delay in deposit of tax after deduction
Stage of deduction |
Rate per month or part of the month |
From date when deductible till actual deduction |
1% |
From date of deduction till payment |
1.5% |