TDS and TCS Rates for F.Y 2012-13(A.Y.2013-14)

TDS (Tax Deducted at source) Rate chart and TCS (Tax collection at source) for Financial year 2012-13 is given below for your ready reference. In Budget 2012 Very few changes has been made in TDS rates and cut off amounts. However few new items has been inserted on which TDS is required to be deducted .Like Purchase of Immovable property and TCS on jeweler sale etc.

TDS (Tax deducted at Source) rates for F.Y 2012-13(A.Y 2013-14) 

Sl. No.

Section Of Act

Nature of Payment in brief Cut Off Amount Rate %
01.04.2012 01.07.2012 HUF/IND Others
1 192 Salaries

Salary income must be more then exemption limit after deductions.

Average Rate

2 193 Interest on debentures 2500 5000 10 10
3 194 Deemed dividend - - 10 10
4 194A Interest other than Int. on securities (by Bank) 10000 10000 10 10
4A 194A Interest other than Int. on securities (By others) 5000 5000 10 10
5 194B Lottery / Cross Word Puzzle 10000 10000 30 30
6 194BB Winnings from Horse Race 5000 5000 30 30
7 194C(1) Contracts 30000 30000 1 2
8 194C(2) Sub-contracts/ Advertisements 30000 30000 1 2
9 194D Insurance Commission 20000 20000 10 10
10 194EE Payments out of deposits under NSS 2500 2500 20 -
11 194F Repurchase of units by MF/UTI 1000 1000 20 20
12 194G Commission on sale of lottery tickets 1000 1000 10 10
13 194H Commission or Brokerage 5000 5000 10 10
14 194I Rent (Land & building) 180000 180000 10 10
Rent (P & M , Equipment, furniture & fittings) 180000 180000 2 2
15 194J Professional/Technical charges/Royalty & Non-compete fees 30000 30000 10 10
16 194J(1)(ba) Any remuneration or commission paid to director of the company(Effective from 1 July 2012) NA NIL 10 10
17 194LA Compensation on acquisition of immovable property 100000 200000 10 10
18 194LLA Payment 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)

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)

1 1


                     TCS (tax collection at source rates fy 2012-13)

Sl.No.

Nature of Goods

Rates in %

1

Alcoholic liquor for human Consumption

1

2

Tendu leaves

5

3

Timber obtained under  forest lease

2.5

4

Timber obtained by any mode other than a forest lease

2.5

5

Any other forest produce not being timber or tendu leaves

2.5

6

Scrap

1

7

Parking lot

2

8

Toll plaza

2

9

Mining & Quarrying

2

10

Minerals, being coal or lignite or iron ore 

1 wef 01.07.2012

11

Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 5 lakhs in jewellery and two lakh in case of Bullion) 

1 wef 01.07.2012

 

 

 

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