*Tax Deduction at Source*

*_GENERAL POINTS_*
📍 _Tax deducted shall be deposited by 7th of next Month & by 30 April for the Month of March._

📍 _In case of TDS u/s 192/194A/194D/194H quarterly deposit of TDS by 7th of July/October/Jan & 30 April_

*For Reference*
_(192 is for Salaries)_
_(194A- Interest other than Securities)_
_(194D- Insurance Commission)_
_(194H- Commission or Brokerage)_

📍 _In case of TDS u/s 194IA & 194IB tax shall be deposited within 30 days from end of month of deduction._
_(194IA- Transfer of Immovable Property other than Rural agri Land)_
_(194IB- payment of Rent)_

📍 _If the Receiver is Non Resident than TDS shall attract Cess @3% (e. g. TDS Rate 20% shall be 20. 6%)_

📍 _Simple Interest @ 1% PM or part if TDS not deducted & 1.5% PM or part if deducted but not deposited shall be imposed u/s 201(1A)._

📍 _Certificate of TDS u/s 203 [RULE 31] shall be submitted under form 16A quarterly within 15 days [in case Of employer under form 16 by 15th June of AY]._

📍 _If the Receiver does not have PAN than TDS shall be at higher rate a 20% (30% in case of 192, 192A & 194BBI._

*Various Sections in TDS*

*1) 192*
📍 *Nature*
👉 Salaries
📍 *Payer 👴*
👉 Employer
📍 *Payee 👨*
👉 Employee
📍 *Amt except from TDS*
👉 Exempt Slab
📍 *Time ⌚ of Deduction*
👉 On Payment
📍 *TDS Rate*
👉 10%

*2) 192A*
📍 *Nature*
👉 Premature Withdrawal EPF
📍 *Payer 👴*
👉 EPF Officer
📍 *Payee 👨*
👉 Individual
📍 *Amt except from TDS*
👉 50,000/-
📍 *Time ⌚ of Deduction*
👉 On Payment
📍 *TDS Rate*
👉 10%

*3) 193*
📍 *Nature*
👉 Interest on Securities
📍 *Payer 👴*
👉 Organization issuing Securities
📍 *Payee 👨*
👉 Holder of the Security
📍 *Amt except from TDS*
👉 Nil i.e. 0
📍 *Time ⌚ of Deduction*
👉 Earlier of Payment or time of credit
📍 *TDS Rate*
👉 10%

*4) 194*
📍 *Nature*
👉 Dividend U/s 2(22)(e)
      i.e. Deemed Dividend
📍 *Payer 👴*
👉 Domestic Company
📍 *Payee 👨*
👉 Resident Holder
📍 *Amt except from TDS*
👉 Nil
📍 *Time ⌚ of Deduction*
👉 On Payment
📍 *TDS Rate*
👉 10%

*5) 194A*
📍 *Nature*
👉 Interest other than Securities
📍 *Payer 👴*
👉 Any Person
      (Individual/HUF only if cover U/s 44AB)
📍 *Payee 👨*
👉 Any Resident Person
📍 *Amt except from TDS*
👉 Rs. 5,000
      (Rs. 10,000 Bank 🏦 Interest)
📍 *Time ⌚ of Deduction*
👉 Earlier of Payment or time of
      credit
📍 *TDS Rate*
👉 10%

*6) 194B* (B for Badmash)
📍 *Nature*
👉 Winning from Lotteries/Puzzles/Games & so on....
📍 *Payer 👴*
👉 Any Person
📍 *Payee 👨*
👉 Any Person
📍 *Amt except from TDS*
👉 Up to Rs. 10,000
📍 *Time ⌚ of Deduction*
👉 At time of Payment
📍 *TDS Rate*
👉 30%

*7) 194BB* (Bada Badmash)
📍 *Nature*
👉 Winning from Horse 🐴 Races
📍 *Payer 👴*
👉 Any Person
📍 *Payee 👨*
👉 Any Person
📍 *Amt except from TDS*
👉 Up to Rs. 10,000
📍 *Time ⌚ of Deduction*
👉 At time of Payment
📍 *TDS Rate*
👉 30%

*8) 194C* (C for Contractor)
📍 *Nature*
👉 Payment to Contractor/Sub Contractor
📍 *Payer 👴*
👉 Any Specified Person
📍 *Payee 👨*
👉 Any Person
📍 *Amt except from TDS*
👉 Single Payment <=30,000 &
👉 Annual Payment <=1,00,000
📍 *Time ⌚ of Deduction*
👉 Earlier of Payment or time of
      credit
📍 *TDS Rate*
👉 1% for Individual/HUF
👉 2% any other Person




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