Rates of TDS for F.Y. 2014-2015 or A.Y. 2015-16 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.

Section
Payment Nature
Payment in excess of
TDS Rate
for Individiual
TDS Rate
for Others
194AInterest from a Banking Company1000010%10%
194AInterest other than from a Banking Co.500010%10%
194CContractors (including Advertising & Sub-Contractor)30000 (per payment) or 75000 p.a.1%2%
194CTransport Contractors (Providing PAN and enganged in the business of plying, hiring or leasing of goods carriagesNilNilNil
194DInsurance Commission2000010%10%
194HCommission or Brokerage500010%10%
194IRend of Land & Building18000010%10%
194IRent of Plant & Machinery and Other Equipments1800002%2%
194IATransfer of Immovable Property other than Agriculture Land 50000001%1%
194JPayment for Professional Services, Technical Services & Royalty3000010%10%
194J(1)(ba) Payment to Directors any remuneration or fees or commission by whatever named called if the same is not covered u/s 192-10%10%

Important Notes on TDS Rates Chart for F.Y.  2014-15

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.2014-15 or A.Y.2015-16 (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.

 

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39 Responses to TDS Rates Chart for F.Y. 2014-15 A.Y. 2015-16

  1. Neer says:

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

  2. Kishore says:

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

  3. Sriganesh says:

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

  4. mala says:

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

  5. Jimit says:

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

  6. Vivek says:

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

  7. Ujjwala Kulkarni says:

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

  8. AMIT says:

    TDS chart required”

  9. Jitesh Jagdale says:

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

  10. Manoj Patil says:

    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.

  11. Ashok Borge says:

    please without audit require tds filling

  12. oilfieldsupp says:

    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?

  13. Bharath Gowda. S says:

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

  14. Bhaurao saraswat says:

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

  15. Biplab Chakraborty says:

    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

  16. Sengu says:

    Hi.. Am joining a reputed MNC on a direct contract position. They have specified that Tax at source will be deducted as per IT rules for Independent consultants. Can you pls share the percentage that will be deducted from my consolidated salary on a monthly basis.

  17. gangaiah says:

    tds applicable on membership fee to Associations

  18. SK says:

    I was a salaried employee and have started practicing as management consultant wef 1.5.2013. I have availed professional services from another management consultant during 13-14 and am making payment to him during 14-15 for the services rendered by him during 13-14. Am I obligated to deduct TDS from the payment?

  19. Sanjoy Das says:

    Please provide TDS rate chart for the financial year 2014-15.

  20. pradip kumar says:

    provide TDS rate chart for the financial year 2014-15

  21. vikas sharma says:

    i want to know that charges for anergy audit in which head post in tally.

  22. ketki salvi says:

    tds is applicable for senior citizen ?

    if the rent is Rs. 17000 per month then tds is applicable to landlord or not ?

  23. bapu says:

    Please provide latest TDS Rate charges U/s 195 ( Payment to Non Resi)

  24. denis dakoria says:

    can i alter some of the figure or head in balance-sheet, my last ITR(4) filed before 3 years but some of the details were not added that time so I want to add those details in recent balance-sheet

  25. rishi trivedi says:

    can you please confirm if the TDS rate for the purpose of withholding tax in case of software import (downloadable format – non physical) is 10%?

  26. irl says:

    TDS charges apply for 2014-2015

  27. vikas sharma says:

    tds % age for sanitary fitting

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