Answer Posted / gopal
TDS Rates Chart for AY 2015-16:
TDS rates chart for income tax on select categories for the financial year 2015 and 2016 are listed below. These rates are applicable for resident Indians.
Nature of payment % of TDS
Payment of salary (Section 192) Normal slab rate
Interest on securities (Section 193) 10%
Dividend excluding the dividends mentioned in section 115-O (Section 194) 10%
Income received from interest other than “interest on securities” (Section-194A) 10%
Income received from winning lotteries, crosswords, and games, etc. ( Section-194B) 30%
Insurance commission (Section-194D) 10%
Payment for life insurance policy (Section 194DA) 2%
Rent (Section 194-I)
For plant and machinery – 2%
Land, furniture, fitting and furniture-10%
Payment on transfer of immovable property excluding agricultural land ( Section (194- IA) 1%
Income Tax TDS Rates Applicable for NRIs are Mentioned Below:
Nature of Payment % of TDS
Payment of salary (Section 192) Normal slab rate
Payment of accumulated balance of provident fund (Section 192A) 10%
Income received from winnings lotteries, crossword puzzles, card games and other games of any sort (Section 194B) 30%
Income received from winnings from horse races (Section 194BB). 30%
Payment on deposit under National Savings scheme (section- 194EE) 20%
Payment on repurchase of Mutual Fund or Unit Trust of India ( Section 194F) 20%
Commission on sale of lottery tickets (Section 194G) 10%
TDS Deduction Rate:
TDS deduction rates are dependent on your taxable income. TDS deduction rate for the financial year 2015 and 2016 are mentioned below. These rates are applicable for general taxpayers, both men and women.
Taxable Income Tax Rate
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 to Rs. 5,00,000 10%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
TDS Slab Rates:
TDS deduction rates are different for senior citizens and super senior citizens. The below mentioned TDS slab rates are applicable for senior citizens aged between 60 to 80 years:
Income Slabs Tax Rate
Up to Rs. 3,00,000 Nil
Rs. 3,00,000 - Rs. 5,00,000 10%
Rs. 5,00,000 - Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
For super senior citizens aged 80 years and above, the following rates are applicable:
Income Slabs Tax Rate
Up to Rs. 5,00,000 Nil
Rs. 5,00,000 - Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
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