Rates of TDS

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Rates of TDS

• TDS is deducted by deductor/employer under
  following section
• Section 192- Payment of Salary
• Section 193- Interest on securities to a
  resident _at_ 10
• Section 194- Dividend to a resident _at_ 10
• Section 194A- Interest other than interest on
  securities to a resident _at_ 10.
• Section 194B- Winning form lottery and crossword
  puzzle _at_ 30
• Section 194BB- Winning from horse races to a
  resident/non-resident _at_ 30
• Section 194C- Payment to resident contractor _at_
  1 if payment made to individual/HUF and _at_ 2 if
  payment made to any other person.
• Section 194D- Insurance commission paid to a
  resident _at_ 10

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• Section 194E- Payment to non resident sportsman
• - If payment made up to 30th June, 2012 _at_ 10
• - If payment made after 30th June, 2012 _at_ 20
• Section 194EE Payment in respect of deposits
  under National Saving Scheme, 1987 to a resident/
  non-resident _at_ 20
• Section 194F Payment on account of repurchase
  of units of MF or UTI to a resident/non-resident
  _at_ 20
• Section 194G Commission on sale of lottery
  tickets to a resident/non-resident _at_ 10
• Section 194H commission or brokerage to a
  resident _at_ 10
• Section 194I Rent to a resident
• - Rent of plant and machinery _at_ 2
• - Rent of land or building or furniture or
  fitting _at_ 10

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• Section 194J- Professional fees, technical fees,
  royalty (or remuneration to a director) paid to
  resident _at_ 10
• Section 194LA- Payment of compensation to a
  resident on acquisition of certain immovable
  property _at_ 10
• Section 194IA- Payment on transfer of immovable
  property exceeding Rs. 50 Lacs _at_ 1 (WEF-
  01.06.2013)
• Section 194LB- Interest payment by
  infrastructure debt fund _at_ 5
• Section 194LC- Payment of interest by Indian
  specified co to non-resident on foreign currency
  approved loan/long term infra bonds from outside
  india _at_ 5
• Section 195- payment of other sum like royalty,
  fees for technical services etc to non-resident
• Section 196B- Income from units to an offshore
  fund _at_ 10
• Section 196C- Income from foreign currency bonds
  or GDR _at_ 10
• Section 196D- Income of foreign institutional
  investors from securities _at_ 20

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Important dates for filing of TDS Returns
Quarter Period Last date for
filing time-limit for issue of certificate
I April to June 15th July 30th July
II July to September 15th October 30th
October III October to December 15th
January 30th January iv January to March
15th May of next FY 30th May
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Taxmanns TDS Software
First select organization under Payer
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Fill relevant details under different field. Some
fields like organization type, state etc have
drop down option, you can select from list.
Fields marked with red star are mandatory to fill.
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You can select heads from the given list which
are relevant for the organization.
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User can Edit or delete existing organization
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Select one option from payee, either employee or
others and create deductee record.
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Employee Creation
Fill required information and save. You can check
errors from Validate button.
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Other Recipient
In case of other party, user have to fill above
form.
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You can edit or delete existing employee from
above button.
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SECTION 192
After creating organization and party master, you
should make tax deduction entries. For making
entries under section 192, select section 192.
Then select particular employee.
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After employee selection, fill income details of
employee under various heads of income. Fields
marked with arrow marks are calculated fields.
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Salary head is further divided into sub heads.
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You can add any other part of salary income also.
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Allowances
You can mention different allowances here.
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Perks
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Tax deposit
After making deduction entries, one should
deposit tax. Tax can be deposited for more than
one employee also.
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Other than salary
If you want to make entries under Other than
salary, select above option.
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Choose section from drop down list and enter
amount of payment made.
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In special cases like lower deduction, no
deduction, transporter case etc. select remark
A,B,C,S,T, and Y.
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Deposit of Tax
After making tax deduction entries, you should
make tax deposit entries.
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Fill challan details against respective tax
deduction entries.
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Generation of Return
Its time to generate return. Select Quarterly
returns on computer media for generating return.
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REPORTS
User can take printout of various reports through
this option.
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Worksheet
You can view worksheet of selected employee
through this option.
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Revised return
For making revised return, select revised return
and import .tds file of that quarter.
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If you want to make any correction in deductor,
select C1. On left side you can see details as
submitted in your last return, make correction on
right side and save.
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For correction of PAN i.e. C5, you have to click
on modify and then enter correct PAN. You can
correct either single or multiple PAN.
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Select any challan and click on modify to make
challan correction and save
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You can add new deductee/challan through C9 and
can also make correction in existing deductee
through C3
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After making corrections you can proceed with
generation of correction statement.
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Backup/Restore of data live update
You can take backup from last year Taxmanns
software through this option. You can also
restore current year data. Live update button can
be used to update changes in the software.
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Useful help links
These links are given for help of users. You can
use them during filing of your return for the
sake of miscellaneous information.
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END OF SLIDES

• THANKS..