Overview

Any Company or Person making a payment is required to deduct tax at source if the payment certain threshold limits.

THRESHOLD LIMIT FOR TDS:

SEC- 192

TDS on Salaries

• Exemption limit for an Individual is Rs. 250000.

SEC- 194B

TDS on winning from lottery, crossword or any game

• If the amount exceeds Rs. 10000 then 30% TDS id deducted.

SEC- 193

TDS on interest on securities

• TDS of 10% is to be deducted for Individual and HUF on interest from securities received if limit of Rs. 5000 on Debenture and Rs. 10000 on other are crossed.

SEC-194

TDS on deemed Dividend

• If dividend income exceeds Rs. 5000 then 10% TDS deducted.

SEC-194EE

TDS on withdrawal of National Saving scheme

• If any withdrawal from NSS limit exceeds Rs.2500, then 20% TDS deducted.

SEC-194I

TDS on rent

• If Limit exceeds Rs. 240000 Per Annum, then 2% on plant & machinery, 10% on Land & Building Deducted.