Saturday, March 27, 2010

TDS RATES 10-11 TDS RATE CHART 10-11 TCS RATE CHART INCOME TAX RATES


on Saturday, March 27, 2010

In Budget 2010 ,TDS rates has not been changed and only cut off amount has been proposed to be increased in few cases .I have prepared TDS rate charts for Most commonly used TDS sections.The Increased Limits are yet two be passed and it is proposed to be effective from 01.07.2010.I will updates the rates after the Finance Bill is passed by the parliament and notified.

TDS TCS RATES FOR FINANCIAL YEAR 2011-12 IS AVBL HERE

Earlier following changes has been done in through Finance Act 2009 in TDS rates effective from 01.10.2009

  1. No surcharge and cess on tax deducted on non-salary payments made to resident taxpayers.Tax should be deducted on Basic rate only given in respective section.No education cess or Surcharge is to be deducted except in the case of salary where Tax should be deducted after including the Education cess.(chart is given below where is surcharge and cess is required to be included in TDS rates)
  2. .Surcharge on individual and HUF assessee has already been abolished for full year fy 2009-10.
  3. Basic TDS rates for section 194 C (Payment to contractors) and 194I (payment of rent) has been changed (given in table)
  4. Section 194C has been replaced with new section with less ambiguities.(details are available here (TDS ON JOB WORK U/S 194C AMENDED FROM 01.10.2009)

The rate of TDS will be 20 per cent or rate provided in respective section which ever is higher , in all cases, if PAN is not quoted by the deductee w.e.f. 1.04.2010.Even if a person has a Income less than taxable income and providing form 15H or in case of senior citizen 15G ,are also required to give his pan to deductor and if pan is not allotted to them then TDS rate will be on higher side (minimum 20 %) .














the above charts can be downloaded from following link

Download Tds rate chart for Financial year 2010-11 in pdf format
Download Tds rate for 2010-11 Financial year and download income tax rate 2010-11
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