C A H & Associates, Chartered Accountants, Pune

 TDS is required to be deducted by

responsible person at the appropriate rates,
from payments of specific nature i.e. salary,
rent, contract payments, consultancy fees,
commission, etc.
 Applicable to all assessees other than
indv/HUF.

C A H & Associates, Chartered Accountants, Pune

Section Nature of payment Types of payments covered
192B TDS on salaries paid Govt. & Non-govt. Employees
incl contractual employees
194C TDS on payments to It covers advt, supply of
contractors and sub- manpower, construction,
contractors catering, rent a cab, etc.
194I TDS on rent paid Rent on building and
machinery
194J TDS on fees for professional Legal and professional fees,
or technical services retainer-ship fees, royalty,
software
development/purchase, etc.
194H TDS on Commission & Commission & Brokerage
Brokerage
C A H & Associates, Chartered Accountants, Pune
Section Threshold limit Rate of TDS
194C SINGLE PAYMENT 1% in case of indv/HUF &
exceeds-Rs. 30,000 & 2% in other cases.
total sum paid in the
year exceeds
Rs. 75,000

194J & 194H Annual 10% in all cases

Payment exceeding Rs.
30,000
194I Rent on P&M: Rs. 1.20 2% for P&M
Lacs & above p.a.
Rent on bldg: Rs. 1.80
Lacs & above p.a. 10% for bldg
192B Annual salary exceeding Average rate.
taxable limit

C A H & Associates, Chartered Accountants, Pune

 Deduction on gross amt including taxes except rent.
 TDS on reimbursement if not shown separately.
 Either on payment or credit basis whichever is earlier
except salary. Thus, it will cover advance payment.
 Mandatory to have deductee PAN. Failure will attract
deduction @ 20%.
 Lower deduction on production of certificate from CIT.
Certificate is valid for 1 year only.

C A H & Associates, Chartered Accountants, Pune

 Deductor to obtain TAN in form No.49B.
 Deductor to register with TRACES for issuance of TDS
certificates.
 Remittance of TDS in challan no 281 on or before 7th of next
month.
 For March, tax to be remitted by 30th April.
 Remittance in separate challan for corporate & non-
corporate deductees.
 Quarterly submission of TDS Return.
 Return to be submitted either electronically or online.

C A H & Associates, Chartered Accountants, Pune

 Due dates & Periodicity for Return:

Quarter 24Q(Salary 26Q(Non-

Return) salary)
Q-1 15th July 15th July
Q-2 15th Oct 15th Oct
Q-3 15th Jan 15th Jan
Q-4 15th May 15th May

C A H & Associates, Chartered Accountants, Pune

 Due Dates for issue of certificates:
Particulars Salary Non-salary
Form 16 16A
Periodicity Annual Quarterly
Due Date 31st May of next FY Within 15 days
from due date of
return.

C A H & Associates, Chartered Accountants, Pune

 Late filing fees for TDS Return U/s 234E: Mandatory late filing fees U/s
234E of Rs 200/- per day subject to maximum of TDS amount.
 Penalty for Late filing or non filing of TDS Return U/s 271H: Failure to
filing TDS return within 1 year from specified date will attract minimum
penalty of Rs. 10000 and maximum penalty of Rs. 100000/-
 Applicability of Interest on Non/ Late deduction TDS and Late
payment of TDS :
i) Late Deduction: Interest @ 1% p.m. for late deduction of TDS on
applicable amount.
ii) Late remittance: Interest @ 1.5% p.m. for late remittence on
applicable amount
 Penalty U/s 271C upto the amount of TDS if not deducted and paid to the
Government account.

C A H & Associates, Chartered Accountants, Pune

Questions Please?

C A H & Associates, Chartered Accountants, Pune

 Thank You!!!

C A H & Associates, Chartered Accountants, Pune