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tds-tcs-2012-13-fin.year

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Below is as per Finance Bill 2012 (not passed yet in Parliament 2012)

TDS RATE CHART FINANCIAL YEAR 2012-13 (ASSESSMENT YEAR 13-14)

Sl. No.Section Of ActNature of Payment in briefCut Off AmountRate %
01.04.201201.07.2012HUF/INDOthers
1192 SalariesSalary income must be more then 

exemption  limit after deductions.


Average Rate
2193Interest on debentures250050001010
3194Deemed dividend--1010
4194AInterest other than Int on securities (by Bank)10000100001010
4A194AInterest other than Int. onsecurities (By others)500050001010
5194BLottery / Cross Word Puzzle10000100003030
6194BBWinnings from Horse Race500050003030
7194C(1)Contracts300003000012
8194C(2)Sub-contracts/ Advertisements300003000012
9194DInsurance Commission20000200001010
10194EEPaymentsout of deposits under NSS2500250020-
11194FRepurchase of units by MF/UTI100010002020
12194GCommission on sale of lottery tickets100010001010
13194HCommission or Brokerage500050001010
14194IRent (Land & building)1800001800001010
Rent (P & M , Equipment, furniture & fittings)18000018000022
15194JProfessional/Technical charges/Royalty & Non-compete fees30000300001010
16194J(1)(ba) Any remuneration or commission paid to director of the company(Effective from 1 July 2012)NANIL1010
17194LACompensation on acquisition of immovable property1000002000001010
18194LLAPayment on transfer of certain immovable property other than agricultural land(applicable only if amount exceeds : (a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)

NA (a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)

11

TCS Rates for the FY 2012-13

The Tax Collection at Source Rates for the Financial Year 2013-13 is tabulated below:

Sl.No.Nature of GoodsRates in %
01.04.201201.07.2012
1.Alcoholic liquor for human Consumption11
2.Tendu leaves55
3.Timber obtained under forest lease2.52.5
4.Timber obtained by any mode other than a forest lease2.52.5
5.Any other forest produce not being timber or tendu leaves2.52.5
6.Scrap11
7.Parking lot22
8.Toll plaza22
9.Mining & Quarrying22
10Minerals, being coal or lignite or iron ore NA 1
11Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 2 lakhs) NA 1

No Education Cess on payment made to resident-Education Cess is not deductible/collectible at source in case of resident Individual/HUF /Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary. Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company.

Surcharge on Income-tax - Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.


tds payment due date

(2) All sums deducted in accordance with the provisions of Chapter XVII-B by deductors other than an office of the Government shall be paid to the credit of the Central Government-

(a) on or before 30th day of April where the income or amount is credited or paid in the month of March;and

(b) in any other case, on or before seven days from the end of the month



For filing TDS returns:-
  • Etds return due date for salary Q4(01.01.2012 to 31.03.2012) (form 24 Q) is 15.05.2012
  • Etds return due date for other than salaryQ4(01.01.2012 to 31.03.2012)  (26q) is 15.05.2012
  • Due date for (salary) Fy 2011-12 is 31.05.2012
  • Due date for Form 16A quarter four (01.01.2012 to 31.03.2012) is 30.05.2012

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