TDS Rates Charts A.Y.2018-19 / F.Y.2017-18
- Click here for TDS Rates Chart – Resident of India (Individual /HUF) (Domestic Company)
- Click here for TDS Rates Chart – NRI (Individual/HUF)
- Click here for TDS Rates Chart – NRI (Foreign Company)
- Click here for TDS Rates Chart – NRI (co-operative society/firms)
You can download complete TDS Rates Chart in PDF format – Download Complete TDS Rates Chart PDF format
- Payee should provide his PAN to Payer so that payer can mention in TDS certificate and in TDS returns. It will help indirectly to payee to get refund easily and fast.
- 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.
- 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.
- Surcharge is not deductible on payment made to residents, other than salary.
- In case of non-resident, surcharge would be applicable on TDS.
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
FAQ on TDS Rates
Q. The employer has deducted excess TDS from the salary of an employee. Now can the company refund the money to employee directly?
Ans: No the company will not pay excess amount to employee directly. First company will deposit TDS to the Government. After that employee will file his income tax return and claim that amount then the income tax department will refund that amount.
Q. What is the highest TDS rates and on which payment?
The highest rates of TDS is 30% on Winning From Lotteries (Section 194B) and Winning from Horses Section 194BB)
Q. What is the difference between TDS Rates and Income Tax Rates?
TDS stands for Tax Deducted at Source. The payer will deduct Tax of payee at time of payment or credit of payment whichever is earlier. It means payer deduct tax at source means immediately.
The tax is deducted at the rates specified by the Government. So its payer duty to deduct TDS on certain payment to payee at the rate specified as above TDS rates chart.
Income tax is only paid by yourself not by your payers or employers.