Rates of TDS for F.Y. 2012-13 or A.Y. 2013-14 are given below. TDS is to be deducted on specified payment as prescribed by Income Tax Act by persons who are liable to deduct TDS. (Deducter/Payer) at prescribed rates by Income Tax Act. So It is the duty of the deductor to deduct TDS as given in Income Tax Act. Each payment has its own rate of  percentage to deduct TDS.

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Every deductor need to deduct TDS as prescribed in Income Tax Act (not more than that and not lower than that). No doubt, there is no penalty to deduct more or wrongly deduction of TDS. However, deductor will issue TDS certificate (Form 16/Form 16A) as per actual deduction. The payee should claim the refund as per TDS certificate whether is wrongly deduction or higher deduction as the case may be.

However, TDS can be adjusted against any other payment made or credited if TDS has been wrongly deducted from a payment on which there is no liability to deduct TDS. However, the penalty for non-deposit of TDS will be imposed by Income Tax Department.

So TDS rates plays very important part for payer and payee to get easily and timely income tax refund.

Important Notes on TDS Rates Chart for F.Y. 2012-13

Payee should give his PAN to Payer so that payer can put in TDS certificate and in TDS returns. It will help indirectly to payee for gettin refund easily and fastly.

See also: Tax Collection at Source (TCS) Rates for F.Y.2012-13

But Now w.e.f 1.4.2010 payee must tell his PAN to the payer or deductor otherwise TDS will be deducted @ 20% or the applicable rate, whiever is higher. It is the duty of payer to ensure that PAN of payee should be correct by asking PAN copy.

Check the following notes before going to Chart of TDS Rates for F.Y. 2012-13.

  • In transport business’s contracts, TDS liability will not arise if payee furnish his PAN.
  • w.e.f. 1-7-2012 TDS exemption limit on compensation on acquisition of immovable property is Rs. 2,00,000 as given in table give below earlier it was Rs. 1 Lakh. 
  • Due date of TDS payment is up to 7th day from the closing date of month in which Tax has deducted and 30th April if paid or credit in the month of march otherwise Interest of late deposit  will be liable @ 1.5% for each month of delay.

See complete information on Time Limit to Deposit TDS & Issue TDS Certificate

Check more detail on Penalty on Failure or Late Payment to Deposit TDS

TDS Rates Chart for F.Y.2012-13 or A.Y.2013-14 (if you want to download this chart in excel or PDF, Please subscribe our email and reply for download with Subject line of  “TDS chart required” or like our Facebook page and send message on it.

Section Nature of PaymentAmount LimitTDS Rates for Individuals or HUFTDS Rates Company, Co-operative Society, Firm
194AInterest from a Banking CompanyRs. 10,000/- p.a1010
194AInterest other than from a Banking Co.Rs.5,000/- p.a.1010
194CContractorRs. 30000/- per contract or Rs. 75000/- p.a.12
194HCommission or BrokerageRs. 5,000/-1010
194I Rent other Than Plant, Mach. & Eqp.Rs. 1,80,000/- p.a.1010
194IRent of Plant, Machinery & EquipmentsRs. 1,80,000/- p.a.22
194JProfessional chargesRs.30,000/-1010
94 LACompensation on acquisition of Immovable propertyRs.2,00,000/-1010

  • Neer

    Can you please check the TDS rates for the Contractor under Individual/HUF?? Is it 2% or 1%????

    • krish-an

      individual & H.u.f is 1% & other is 2%

  • Kishore

    TDS for contractor U/s 194C – for individual or HUF it is 1% and for otherthan individual or HUF it is 2%

    • Neer

      right kishore….however, in above TDS Rates’ Table….it is given 2% for HUF and Individual!!!!!!!

  • Sriganesh

    please let us know what is TDS rates i.e IT, SC and Cess for services from foreign company , under section 195 – other sums

  • mala

    transport contractor will be applicable for the TDS 2012-13 are what?

    • mala

      Can you please check the TDS rates for the Contractor under Transport ion

    • Kinjal

      0% for transporter or 20% if PAN No. of deductee is not furnished

  • Jimit

    This contractor rates for Individual/HUF is wrongly mentioned at 2 % and vice versa for companies

  • Vivek

    In List of Contractor rate are wrong as 2% on HUF/Individual and 1% on Companies.kindly check it out

  • Ujjwala Kulkarni

    194j- tds to profeesional paid rs 15000/- twice in the year separately . whether it is applicable for tds?

    • Kinjal

      No Limit for section 94J is 30000

      • Sonaal Jain

        194JProfessional chargesRs.30,000/-
        Limit

        10TDS Rates Company, Co-operative Society, Firm,
        Individuals or HUF

    • Ajit Kumar Sahu

      YES UR LIABLE TO PAY

  • AMIT

    TDS chart required”

    • Dinesh

      Dinesh Current TDS Chart required for company

  • Jitesh Jagdale

    can i explain the someone what is the tds rate of individual?

    • ajay

      Tds rate of individual 1% on all contractor and 2% charge if the company instead individual

  • Manoj Patil

    above TDS rate mistake in 194C Contractor there are 2 % TDS Rates for Individuals or HUF is instead of 1% & 1% TDS Rates for Company, Co-operative Society, Firm is instead of 2%. pls verified its.

  • Ashok Borge

    please without audit require tds filling

  • oilfieldsupp

    I have deducted 10 % towards professional fees , instead of technical job work services which should be 2% , amount has been credited under 94j instead of 94 C, any way to.sort this out?

  • Bharath Gowda. S

    thanks for the information , now i can understand the rates properly

  • Bhaurao saraswat

    pl help me with TDS chart for A Y 14-15

  • Biplab Chakraborty

    We have deducted lower deduction @ 4.25% on Brok & Comm for the financial year 2010-11 without lower deduction certificate, now in which way we can reply to the ITO