We have highlighted the Generally Used TDS Sections, and must check details
| SECTION | NATURE | RATE | THRESHOLD/LIMIT | WHERE WE CAN FIND IT IN PROFIT AND LOSS A/C |
| 192 | SALARY | 0-2.5 LAKH-NIL 2.5-5 LAKH-5% 5-10 LAKH-20% MORE THAN 10 LAKH-30% | BELOW 60 YEARS=2.5 LAKH SENIOR CITIZENS BETWEEN 60 YEARS AND BELOW 80 YEAR=3 LAKH SUPER SENIOR CITIZEN ABOVE 80 YEAR=5 LAKH | REMUNERATION/ /STIPEND/SALARY/WAGES |
| 193 | INTEREST ON SECURITIES | 10% | 2,500 | INTEREST |
| 194 | DIVIDENDS | 10% | 5,000 | DIVIDENEDS |
| 194-A | INTEREST OTHER THAN “INTEREST ON SECURITIES” | 10% | 50,000 | INTEREST |
| 194-C | PAYMENT ON CONTRACTORS | HUF/INDIVIDUALS=1% OTHER=2% | 30,000 |
Advertisement Job Work Any Contractual Work Freight Forwarding Logistics Services Outsourcing Services |
| 194-I |
RENT- PLANT/MACHINERY/EQUIPMENT | 2% OR 10% | 2,40,000 |
RENT LEASE |
| 194-J | FEES FOR PROFESSIONAL OR TECHNICAL SERVICES | PROFESSIONAL FEES /CONSULTANCY FEES | ||
| 1)SUM PAID OR PAYABLE TOWARDS FEES FOR TECHNICAL SERVICES | 2% | 30,000 | FEES FOR TECHNICAL SERVICES | |
| 2)SUM PAID OF PAYABLE TOWARDS ROYALTY IN THE NATURE OF CONSIDERATION FOR SALE, DISTRIBUTION OR EXHIBITION OF CINEMATOGRAPHI FILMS | 2% | 30,000 | ||
| 3) ANY OTHER SUM | 10% | 30,000 | ||
| 194-M | PAYMENT OF COMMISSION (NOT BEING INSURANCE COMMISSION), BROKERAGE, CONTRACTUAL FEE, PROFESSIONAL FEE TO A RESIDENT PERSON BY AN INDIVIDUAL OR A HUF WHO ARE NOT LIABLE TO DEDUCT TDS UNDER SECTION 194C, 194H, OR 194J. | 5% | 50,00,000 | -COMMISSION -BROKERAGE -CONTRACTUAL EXPENSES -PROFESSIONAL FEE |
| 194-O | PAYMENT OR CREDIT OF AMOUNT BY THE E-COMMERCE OPERATOR TO E-COMMERCE PARTICIPANT | 1% | 5,00,000 | |
| PURCHASE OF GOODS | 0.10% | 50,00,000 | -PURCHASE -GOODS -INVENTORY -PRODUCTS -WARES -CONSUMPTION OF STORES AND SPARE PARTS | |
| 194-R | TDS ON BENEFIT OR PERQUISITE OF A BUSINESS OR PROFESSION | 10% | 20,000 |
Refer the article for more details at https://www.vatspk.com/tds-on-prerequisites-or-benefits-in-business-sec-194-r/ |
| 194-S | TDS ON PAYMENT FOR VIRTUAL DIGITAL ASSETS | 1% |
“SPECIFIED PERSON” PAYER-50,000 OTHER PAYERS-10,000 |
SECURITY TOKENS/ CRYPTO ASSETS/ DIGITAL ASSETS/ DIGITAL CURRENCY |
| 194-K | INCOME IN RESPECT OF UNITS PAYABLE TO RESIDENT PERSON | 10% | 5,000 | DIVIDEND/CAPITAL GAIN ON UNITS |
| 194-IB | PAYMENT OF RENT BY INDIVIDUAL OR HUF NOT LIABLE TO TAX AUDIT | 5% | 50,000 PER MONTH | RENT/LEASE/SUB-LEASE/TENANCY |
| 194-H | COMMISSION OR BROKERAGE | 5% | 15,000 | COMMISSION/ BROKERAGE |
| 195 | PAYMENT OF ANY OTHER SUM TO A NON-RESIDENT | RATES GIVEN UNDER THE FINANCE ACT ARE TO BE INCREASED BY THE APPLICABLE SURCHARGE AND EDUCATION CESS OF 4% | THERE IS NO THRESHOLD LIMIT |
Payments Outside India Need to Check DTAA for this as well |
| 194- N | TDS on Cash Witdhrawal | WITHDRAWALS IN EXCESS OF 1 CRORE THAN DEDUCTTION AT THE RATE 2% Provided that all the ITR for last three Financial Years are filed regularly | 1 CRORE | |
|
2% If there is inconsistency in Filing of ITR for Last Three Financial Year | 20 LAKH | |||
|
5% If there is inconsistency in Filing of ITR for Last Three Financial Year CRORE IN CASH THAN THE RATE IS 5% WITHOUT FILED ITR OR HAS NOT FILED ITR | 1 CRORE |
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