TDS Rates Chart for F.Y. 2015-16 [A.Y. 2016-17]

Rates of TDS for F.Y. 2015-2016 or A.Y. 2016-17 are given below. TDS is to be deducted on specified payment as prescribed by Income Tax Act by persons who are liable to deduct TDS. (Deducter/Payer) at prescribed rates by Income Tax Act. So It is the duty of the deductor to deduct TDS as given in Income Tax Act. Each payment has its own rate of  percentage to deduct TDS.

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Every deductor need to deduct TDS as prescribed in Income Tax Act (not more than that and not lower than that). No doubt, there is no penalty to deduct more or wrongly deduction of TDS. However, deductor will issue TDS certificate (Form 16/Form 16A) as per actual deduction. The payee should claim the refund as per TDS certificate whether is wrongly deduction or higher deduction as the case may be.

However, TDS can be adjusted against any other payment made or credited if TDS has been wrongly deducted from a payment on which there is no liability to deduct TDS. However, the penalty for non-deposit of TDS will be imposed by Income Tax Department.

So TDS rates plays very important part for payer and payee to get easily and timely income tax refund.

TDS Rates for A.Y.2016-17 (F.Y.2015-16)

Payment & SectionLimitTDS Rates
for Individiual
Interest from a Banking Company - 194A10,000 p.a.10% (Individuals)
10% (Others)
Interest other than from a Banking Co. - 194A5,000 p.a.10% (Individuals)
10% (Others)
Contractors (including Advertising & Sub-Contractor) - 194C 30,000 (per payment) or 75,000 p.a.1% (Individuals)
2% (Others)
Transport Contractors (Providing PAN and enganged in the business of plying, hiring or leasing of goods carriages - 194CNilNIL (Individuals)
NIL (Others)
Insurance Commission -194D20,000 p.a.10% (Individuals)
10% (Others)
Commission or Brokerage -194H5,000 p.a.10% (Individuals)
10% (Others)
Rent of Land & Building - 194I1,80,000 p.a.10% (Individuals)
10% (Others)
Rent of Plant & Machinery and Other Equipments - 194I1,80,000 p.a.2% (Individuals)
2% (Others)
Transfer of Immovable Property other than Agriculture Land - 194IA50,00,0001% (Individuals)
1% (Others)
Payment for Professional Services, Technical Services & Royalty -194J30,000 p.a.10% (Individuals)
10% (Others)
Payment to Directors any remuneration or fees or commission by whatever named called if the same is not covered u/s 192 - 194J(1)(ba)-10% (Individuals)
10% (Others)

Download TDS Rates Chart (PDF Format)

The below is image format for above TDS chart:

TDS Rates 2016-17

 

TDS Rates for A.Y.2015-16 (F.Y.2014-15)

Payment & Section LimitTDS Rates for Individuals
Interest from a Banking Company - 194A1000010% (Individuals)
10% (Others)
Interest other than from a Banking Co. - 194A500010% (Individuals
10% (Others)
Contractors (including Advertising & Sub-Contractor) - 194C30000 (per payment) or 75000 p.a.1% (Individuals)
2% (Others)
Transport Contractors (Providing PAN and enganged in the business of plying, hiring or leasing of goods carriages - 194CNilNil (Individuals)
Nil (Others)
Insurance Commission - 194D2000010% (Individuals
10% (Others)
Commission or Brokerage - 194H500010% (Individuals
10% (Others)
Rend of Land & Building - 194I18000010% (Individuals
10% (Others)
Rent of Plant & Machinery and Other Equipments - 194I1800002% (Individuals
2% (Others)
Transfer of Immovable Property other than Agriculture Land - 194IA50000001% (Individuals
1% (Others)
Payment for Professional Services, Technical Services & Royalty - 194J3000010% (Individuals
10% (Others)
Payment to Directors any remuneration or fees or commission by whatever named called if the same is not covered u/s 192 - 194J(1)(ba)-10% (Individuals
10% (Others)

Important Notes on TDS Rates Chart for F.Y.  2015-16

Payee should give his PAN to Payer so that payer can put in TDS certificate and in TDS returns. It will help indirectly to payee for gettin refund easily and fastly.

See also: Tax Collection at Source (TCS) Rates for F.Y.2012-13

But Now w.e.f 1.4.2010 payee must tell his PAN to the payer or deductor otherwise TDS will be deducted @ 20% or the applicable rate, whiever is higher. It is the duty of payer to ensure that PAN of payee should be correct by asking PAN copy.

Check the following notes before going to Chart of TDS Rates for F.Y. 2015-16.

  • In transport business’s contracts, TDS liability will not arise if payee furnish his PAN.
  • w.e.f. 1-7-2012 TDS exemption limit on compensation on acquisition of immovable property is Rs. 2,00,000 as given in table give below earlier it was Rs. 1 Lakh.
  • Due date of TDS payment is up to 7th day from the closing date of month in which Tax has deducted and 30th April if paid or credit in the month of march otherwise Interest of late deposit  will be liable @ 1.5% for each month of delay.

See complete information on Time Limit to Deposit TDS & Issue TDS Certificate

Check more detail on Penalty on Failure or Late Payment to Deposit TDS

TDS Rates Chart for F.Y.2015-16 or A.Y.2016-17 (if you want to download this chart in excel or PDF, Please subscribe our email and reply for download with Subject line of  “TDS chart required” or like our Facebook page and send message on it.

 

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111 COMMENTS

  1. please let us know what is TDS rates i.e IT, SC and Cess for services from foreign company , under section 195 – other sums

  2. 194j- tds to profeesional paid rs 15000/- twice in the year separately . whether it is applicable for tds?

  3. above TDS rate mistake in 194C Contractor there are 2 % TDS Rates for Individuals or HUF is instead of 1% & 1% TDS Rates for Company, Co-operative Society, Firm is instead of 2%. pls verified its.

  4. I have deducted 10 % towards professional fees , instead of technical job work services which should be 2% , amount has been credited under 94j instead of 94 C, any way to.sort this out?

  5. We have deducted lower deduction @ 4.25% on Brok & Comm for the financial year 2010-11 without lower deduction certificate, now in which way we can reply to the ITO

  6. Hi.. Am joining a reputed MNC on a direct contract position. They have specified that Tax at source will be deducted as per IT rules for Independent consultants. Can you pls share the percentage that will be deducted from my consolidated salary on a monthly basis.

  7. I was a salaried employee and have started practicing as management consultant wef 1.5.2013. I have availed professional services from another management consultant during 13-14 and am making payment to him during 14-15 for the services rendered by him during 13-14. Am I obligated to deduct TDS from the payment?

  8. tds is applicable for senior citizen ?

    if the rent is Rs. 17000 per month then tds is applicable to landlord or not ?

  9. can i alter some of the figure or head in balance-sheet, my last ITR(4) filed before 3 years but some of the details were not added that time so I want to add those details in recent balance-sheet

  10. can you please confirm if the TDS rate for the purpose of withholding tax in case of software import (downloadable format – non physical) is 10%?

  11. dear sir

    I deposited rs 150500 tds on 9th may 2014 for the deduction of salary of april month instead of 7th may tds dept noticed for intrest for delay for 4515 /-
    at the rate of intrest it is just double please check it and inform us

    • Is Education cess and higher education cess deducted different or include in this. For example For Individual 1% Or 1.3 % with cess. –

  12. incentive income treated by which section (192B or 194H)
    please explain the incentive profer definations

    Thanks & Regards,
    Anand

  13. I am working in custom & central excise consultant (Category Management consultant), we receive payment from various client but, T.D.S is deducted at different rate someone deduct 1% or 2% or someone 10 % can you please guide me why this all client deducting differently.

  14. Very good article. Very important question/query i have.

    Some company have wrongly deposited around 25k TDS u/s 194j in my PAN number account and i can see it in my form 26AS. I am salaried person. What should i do? Shall i use that TDS as my tax liability and i should pay only remaining amount of my tax liability after deducting 25k?

    Expecting response.

    Thanks
    Viral

  15. dear,
    we order one fee soft ware Invoice value : 52669 /-
    advance payable 50 % of Quatation value,
    invoice have sales tax – 1875 /-
    service tax – 5793.75 /- it is nesasite to deduct TDS ?
    if yes how much ? plc clarify me.

  16. OUR Company is tour & travel, i just conform i buy Tour Package on other travel company for our customer purpose, vendor give a invoice to me Rs. 80000+ST 2800=82800/- so i give a payment after Deduct TDS or Not and Which section against and rate please give answer

  17. in 194-C – Contractors (including Advertising & Sub-Contractor)
    IF THE Bill payment is above 75,001/- OR 1 Lac then what would be the applicable TDS rate to be deducted 1% OR 2% FOR THE INDIVIDUAL

  18. Does TDS is applicable for part time workers like painter, Electricians….. who are paid on daily basis, who do not have PAN card. if yes what are the limitations and exemptions

  19. Is it TDS mandatory for payment made to part time jobs like painters, electrician, carpenters… in an educational institutions. These part time workers don’t have PAN. Kindly suggest

  20. I AM A INSTRUCTOR IN GOVT. ITI COLLEGE ON CONTRACT BASIS WITH 18000/- PM SALARY.I AM IN LABOUR RESOURCES DEPARTMENT IN BIHAR. BUT THE DEPARTMENT/DDO IS DEDUCTING TDS IN IT @ 10%. Are they correct?

  21. Hi,
    My name is abhay i am working wity private company my salary is 7000/-per month my employer said to me your are under Professional Services your TDS will be deduction 10%..is it correct …???

  22. Hi..

    I am new to business.

    From last 3 yrs I am running small service business on wife name for pharma sample analysis to industry and academics. I outsource all the analysis services. Whatever I charge, my industrial client give 10% deducted amount (as TDS cutting). This is from 2&1/2yr, are these amount are payable from IT department ? If yes kindly guide me how to deal with this. I have received all the TDS certificate from Industrial client.

    Kindly Guide me.

    • Hello Dev, Don’t worry about TDS deduction. It is all payable by IT department in the shape of Refund on the end of financial year when you file your income tax return.

  23. office has purchased referenc3e Books From Publisher for Rs 8500000-00 What amount of T.D.S. is to deducted and under what Section. Thanking you.

  24. In 194C Contractors (Incl. Advertising and Sub-Contractor) If the bill payment is above 1 lacs then what would be the applicable TDS rates to be deducted ? 1% or 2% for both Individual and HUF. Please confirm.

  25. Please,give me basic details about Contractor,Subcontractors and Other.Because we are desided to how to put them into orbit of parties.You are done to additional information about TDS.
    Thanks

  26. We are outsourcing projects .If the project value is 100000 .What will be tds .And we are paying by 25% *4 so each time we are paying 25,000 then tds will applicable at a time of on the payable amount.

  27. I don’t have TAN no. to cut TDS from this year i am paying interest to others, may i know what is the limit till i dont need to have TAN and deduct TDS

  28. I have my salary of 8000rs./month and had 10%TDS, so how can I claim for my TDS and also how can I get exempted from TDS… PLEASE GIVE ME A SUGGESTION.

    • Hello Dsouza, You can get your TDS refund from income tax department by filling of your income tax return for that particular financial year. But I surprise why your employer deduct TDS as your salary is less than taxable limit. You did not specify that your employer deduct TDS or you are talking about TDS on interest on FD. Please specify so that I can answer accordingly. Thanks

  29. I am in plywood trading. sale plywood to various retail customer and deliver the same by coolie and vehicle and charges delivery charges on invoice. I want to know that Is service charges & TDS is applicable on delivery charges

  30. If the company turn over is not more than Rs. 20000000.

    then they are applicable to pay TDS any Landlord.

    And If they are not cut off the TDS from rent then Any query is come out for land lord.

  31. Pl. tell me Travel Agent (Taxi Fare Bill) for Rs.38.900.00 (One month Bill)
    can liable to TDS or not if he liable so what rate shoud be deducted.

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