TDS Rates Chart for F.Y. 2015-16 [A.Y. 2016-17]

Rates of TDS for F.Y. 2015-2016 or A.Y. 2016-17 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.

TDS Rates for A.Y.2016-17 (F.Y.2015-16)

Section Payment NaturePayment in excess ofTDS Rate
for Individiual
TDS Rate
for Others
194AInterest from a Banking Company10,000 p.a.10%10%
194AInterest other than from a Banking Co.5,000 p.a.10%10%
194CContractors (including Advertising & Sub-Contractor)30,000 (per payment) or 75,000 p.a.1%2%
194CTransport Contractors (Providing PAN and enganged in the business of plying, hiring or leasing of goods carriagesNilNilNil
194DInsurance Commission20,000 p.a.10%10%
194HCommission or Brokerage5,000 p.a.10%10%
194IRend of Land & Building1,80,000 p.a.10%10%
194IRent of Plant & Machinery and Other Equipments1,80,000 p.a.2%2%
194IATransfer of Immovable Property other than Agriculture Land 50,00,0001%1%
194JPayment for Professional Services, Technical Services & Royalty30,000 p.a.10%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%

TDS Rates for A.Y.2015-16 (F.Y.2014-15)

Section Payment NaturePayment in excess ofTDS 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.  2015-16

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. 2015-16.

  • 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.2015-16 or A.Y.2016-17 (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.

 

73 comments

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

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

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

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

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

  7. Ujjwala Kulkarni

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

  8. TDS chart required”

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

  10. 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. please without audit require tds filling

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

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

  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

  16. 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. tds applicable on membership fee to Associations

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

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

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

  22. tds is applicable for senior citizen ?

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

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

  24. 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. 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. TDS charges apply for 2014-2015

  27. tds % age for sanitary fitting

  28. pls ,
    i want to know tds rate of an individual , bill of car provide in my company.

  29. whether dedeuction of tds on service tax component in each case is necessary??

  30. dear sir

    I deposited rs 150500 tds on 9th may 2014 for the deduction of salary of april month instead of 7th may tds dept noticed for intrest for delay for 4515 /-
    at the rate of intrest it is just double please check it and inform us

  31. Surveillance fees on Bank Loan Rating payable to ICRA Limited – advise TDS percentage to be deducted on the bill value

  32. i am going to make payment of rent of rs 100000/- pl inform rate tds

  33. I WANT TO KNOW THE PROCEDURE OF FILING OF TDS RETURN. PL EXPLAIN ME.

  34. i know about the deep information about the tds can you give any suggestion about this ……..

    • Is Education cess and higher education cess deducted different or include in this. For example For Individual 1% Or 1.3 % with cess. –

  35. property purchases income tax and vat , tds

  36. TDS CHART REQUIRED

  37. incentive income treated by which section (192B or 194H)
    please explain the incentive profer definations

    Thanks & Regards,
    Anand

  38. slab rate required

  39. I am working in custom & central excise consultant (Category Management consultant), we receive payment from various client but, T.D.S is deducted at different rate someone deduct 1% or 2% or someone 10 % can you please guide me why this all client deducting differently.

  40. Hi i am really confused of tds amunt Can you give me proper chart and i also need salary tds deducted.

    Thanks,
    Sohni

  41. Very good article. Very important question/query i have.

    Some company have wrongly deposited around 25k TDS u/s 194j in my PAN number account and i can see it in my form 26AS. I am salaried person. What should i do? Shall i use that TDS as my tax liability and i should pay only remaining amount of my tax liability after deducting 25k?

    Expecting response.

    Thanks
    Viral

  42. When hiring of car how much tds deduct and payment traveler

  43. Contractor payment of Rs.90000/- F.Y. 2014-2015 with material (Cout /Palang) what is rate or No tds confirm

  44. VINOD BARAPATRE

    R/SIR,
    PLEASES SEND US WHICH AMOUNT START SERVICE TAX
    COMMISSION 12,00,000/-
    SERVICE TAX AMOUNT ?

  45. dear,
    we order one fee soft ware Invoice value : 52669 /-
    advance payable 50 % of Quatation value,
    invoice have sales tax – 1875 /-
    service tax – 5793.75 /- it is nesasite to deduct TDS ?
    if yes how much ? plc clarify me.

  46. OUR Company is tour & travel, i just conform i buy Tour Package on other travel company for our customer purpose, vendor give a invoice to me Rs. 80000+ST 2800=82800/- so i give a payment after Deduct TDS or Not and Which section against and rate please give answer

  47. I want invest my money in bank as FD so please tell me about interest and tax Rs 250000

  48. Salary Tds deduction on ammount.

  49. in 194-C – Contractors (including Advertising & Sub-Contractor)
    IF THE Bill payment is above 75,001/- OR 1 Lac then what would be the applicable TDS rate to be deducted 1% OR 2% FOR THE INDIVIDUAL

  50. Yes applicable as if the rent is Rs.17000 per month it means 2,04,000 yearly which cross the limit of Rs. 1,80,000 so TDS is applicable.

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