Term
|
Definition
Int on Securities
No TDS on any secuirty issued by company listed on stock exchange, in dematerilized form.
On other securities, no interest if-
1. interest for entire year upto Rs 2500
2. oayment thorugh cheque
3. listed securities
Rate: 10% |
|
|
Term
|
Definition
Int paid by banks/ co op societies
for other than ind/huf - always
for ind/huf- only if accounts audited
no tds if paid by panks/co op is upto Rs 10000
if paid by others - Rs 5000
Rate: 10% |
|
|
Term
|
Definition
Horse Races/Crosswords
No TDS upto 2500 or horse races
No TDS upto 5000 for lottery
Rate: 30% |
|
|
Term
|
Definition
Payment to contractor
other than ind/huf - always
Ind/huf- only if accounts audited
No tds if entire amount during the year less than 50K
If one time payment exceeds 20K then TDS.
No TDS on payment to transport operator if PAN furnished.
Rate - Ind/HUF- 1%
Others - 2% |
|
|
Term
|
Definition
Insurance comm
exempt upto Rs 5000
Rate : 10% |
|
|
Term
|
Definition
Comm on sale of lottery tickets
Exempt upto 1000
Rate: 10% |
|
|
Term
|
Definition
Commission/Brokerage
Ind/Huf- only if audited
Others - always
Exempt upto 2500
Rate: 10% |
|
|
Term
|
Definition
Rent
for other than ind/huf - always
for ind/huf- only if accounts audited
No TDS if amount is upto 120000
Rate: P&M 2%
Furniture and Land - 10% |
|
|
Term
|
Definition
Fee for Tech Services
for other than ind/huf - always
for ind/huf- only if accounts audited
No TDS if amount upto Rs 20,000 |
|
|
