Finance Guru: TDS Rates for F.Y. 2010-11, A.Y. 2011-12

Finance Guru: TDS Rates for F.Y. 2010-11, A.Y. 2011-12: "TDS Rates: The below given chart is about TDS Rates for f.y.2010-11, a.y. 2011-12 i.e from 1-4-2010 to 31-03-2011. The below give..."

TDS Rate Chart 10-11

For Assessment Year 2010 – 2011
TDS Rate Chart 10-11 Resident Senior Citizen (65 years or more at any time during the financial year)
Taxable Income	Tax Payable
Upto Rs.240,000	NIL
From Rs.240,001 to Rs.300,000	10% of income above Rs.240,000
From Rs.300,001 to Rs.500,000	Rs.6,000 + 20% of income above Rs. 300,000
Above Rs.500,000	Rs.46,000 + 30% of income above Rs.500,000
Surcharge	NIL (Surcharge has been removed for Individuals)
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rate Chart 10-11 Resident Women / Female
Taxable Income	Tax Payable
Upto Rs.190,000	NIL
From Rs.190,001 to Rs.300,000	10% of income above Rs.190,000
From Rs.300,001 to Rs.500,000	Rs.11,000 + 20% of income above Rs.300,000
Above Rs.500,000	Rs.51,000 + 30% of income above Rs.500,000
Surcharge	NIL (Surcharge has been removed for Individuals)
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rates for ay 10-11 All Resident Individuals (Excluding Females & Senior Citizens), any HUF (Hindu Undivided Family), AOP(Association of Persons), BOI (Body of Individuals), Artificial Juridical Person, NRI (non Resident Indian), RNOR (Resident but not ordinarily Resident)
Taxable Income	Tax Payable
Upto Rs.160,000	NIL
From Rs.160,001 to Rs.300,000	10% of income above Rs.160,000
From Rs.300,001 to Rs.500,000	Rs.14,000 + 20% of income above Rs.300,000
Above Rs.500,000	Rs.54,000 + 30% of income above Rs.500,000
Surcharge	NIL
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rates for ay 10-11 Co-operative Society
Taxable Income	Tax Payable
Upto Rs.10,000	10%
From Rs.10,001 to Rs.20,000	Rs.1,000 + 20% of income above Rs.10,000
Above Rs.20,000	Rs.3,000 + 30% of income above Rs.20,000
Surcharge	NIL
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rates for ay 10-11 Local Authorities
Taxable Income	Tax Payable
Tax Rate	30% of taxable income
Surcharge	NIL
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rate chart 10-11 Firms & LLPs (Limited Liability Partnerships)
Taxable Income	Tax Payable
Tax Rate	30% of taxable income
Surcharge	NIL
Education Cess	2% of Total tax payable
Secondary & Higher Education Cess	1% of Total tax payable
TDS Rate chart 10-11 Domestic Companies
Taxable Income	Tax Payable
Tax Rate	30% of taxable income
Surcharge (if taxable income exceeds Rs.10,000,000)	10% of total tax payable
Education Cess	2% of (Total tax payable + Surcharge)
Secondary & Higher Education Cess	1% of (Total tax payable + Surcharge)
TDS Rate chart 10-11 Foreign Companies
Taxable Income	Tax Payable
For Royalties received from Government of India, or an Indian concern in pursuance of an agreement made by it with the Indian concern after 31-Mar-1961 but before 01-Apr-1976, or FEES for rendering technical services in pursuance of an agreement made by it after 29-Feb-1964 but before 01-Apr-1976 and where such agreement has in either case been approved by the central government	50% of this income
Any other taxable income	40% of taxable income
Surcharge (if taxable income exceeds Rs.10,000,000)	2.5% of total tax payable
Education Cess	2% of (Total tax payable + Surcharge)
Secondary & Higher Education Cess	1% of (Total tax payable + Surcharge)
Marginal Relief
The net amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of “Surcharge limit” by more than the amount of income that exceeds the “Surcharge limit“
Note: Surcharge Limit
For Firms, Domestic Companies and Foreign Companies (Rs.10,000,000)

TDS Rates for F.Y. 2010-11, A.Y. 2011-12

TDS Rates: The below given chart is about TDS Rates for f.y.2010-11, a.y. 2011-12 i.e from 1-4-2010 to 31-03-2011. The below give TDS after all amendments done by the CBDT notifications and circulars. The TDS rates chart has mentioned for allpayment and about payee status to deduct TDS accordingly.

TDS Rates Chart

Rates of TDS for major nature of payments for the Financial Year 2010-11
Particulars				Rates from 1.4.10 to 31.03.2011
Section	Nature ofPayment	Criteria forDeduction (payment in excess of) upto 30th June 2010	Criteria forDeduction(payment in excess of) w.e.f. 1st July 2010	If the recipient is a Company, Co- operative Society, Firm	If recipient is an Indivudual or HUF
194 A	Interest from a Banking Company	Rs.10,000/- p.a	Rs.10,000/-p.a	10.00	10.00
194 A	Interest other than from a Banking Co.	Rs.5,000/- p.a	Rs.5,000/- p.a	10.00	10.00
194 C	Contractors	Rs.20,000/- per contract or Rs.50,000/- p.a	Rs.30,000/-per contract or Rs.75,000/-p.a	2.00*	1.00*
194 H	Commission or Brokerage	Rs.2500/- p.a	Rs.5,000/- p.a	10.00	10.00
194 I	Rent other than Plant, Mach.& Eqp.	Rs.1,20,000/-p.a	Rs.1,80,000/-p.a	10.00	10.00
194 I	Rent of Plant , Machinery & Equipments	Rs.1,20,000/-p.a	Rs.1,80,000/-p.a	2.00	2.00
194 J	Professional Charges	Rs.20,000/- p.a	Rs.30,000/-p.a	10.00	10.00

* No tax is to be deducted in the case the Contractor is in transport businessand PAN is Quoted by him

*Interest of late deposit of TDS is proposed to be increased from 12% p.a to 18% p.a effective from 1st July 2010. Notes: (1) Due date of payments is as under:

(a) Credit/Paid in the month of March – 30th April

(b) Any other case – On or before 7 days from the end of the month in whichdeduction is made.

(2) With effect from 1st April 2010, in case the receiver of the sum does not have PAN, then the deduction has to be made @ 20% or higher rate