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i want current year tax deduction source please let me
know?

Answers were Sorted based on User's Feedback



i want current year tax deduction source please let me know?..

Answer / nageswara rao

1.Section 194A- Other Intrest - Tax Rate is 20.6%
(Threshold Limit is Rs 5000/-)
2.Section 194B- Winning from Lotteries - Tax Rate is 30.9%
(Threshold Limit is Rs 5000/-)
3.Section 194C- Payment to Contractors - Tax Rate is 2.06%
(Threshold Limit is Rs 20000/-)
4.Section 194C- Payment to Advt/Sub Contractors - Tax Rate
is 1.03% (Threshold Limit is Rs 20000/-)
5.Section 194D- Insurance Commission - Tax Rate is 20.6%
(Threshold Limit is Rs 5000/-)
6.Section 194H- Commission/Brokerage - Tax Rate is 10.3%
(Threshold Limit is Rs 2500/-)
7.Section 194I- Rent - Tax Rate is 20.6% (Threshold Limit
is Rs 120000/-)
8.Section 194I- Rent for Plant & Machinery - Tax Rate is
10.3% (Threshold Limit is Rs 120000/-)
9.Section 194J- Professional Fees - Tax Rate is 10.3%
(Threshold Limit is Rs 20000/-)
Above all rates are Company where total payment upto 1 Crore
if it is Company Payment is exceeding 1 crore Surcharges is
calculated @ 10% for every section

There is sepeate tax rates for Individual

Is This Answer Correct ?    9 Yes 1 No

i want current year tax deduction source please let me know?..

Answer / t.sunil kumar

Their are many rates for contracts upto 1000000 below 50000
it is 2.06%

Is This Answer Correct ?    1 Yes 0 No

i want current year tax deduction source please let me know?..

Answer / t.sunil kumar



A)TDS rates for the year 2007-2008

1. Contractor - 2.06%
2. Professionals - 10.3%
3. Sub-Contractor - 1.03%
4. Rent - 15.45%
5. Commission - 10.3%

Is This Answer Correct ?    0 Yes 0 No

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