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RATE OF TAX DEDUCTION
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| Type
of Payee |
TDS
Rate Applicable before 01.10.2009 |
TDS
Rate Applicable after 01.10.2009 |
| All
type of payees |
30%
+ applicable Surcharge + Education cess@ 2% + SHEC @ 1%. |
30% |
PLEASE NOTE:
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Under sections 194B and 194BB, if recipient is a non-resident (other than a foreign company), tax is deductible at the rate of 30.9% (i.e., IT: 30%, EC: 2% and SHEC: 10o). If the recipient is a non-domestic company, tax is deductible at the rate of 30,916 (i.e., IT: 3096, EC: 296 and SHEC: 190), if payment, does not exceed Rs. 1 crore or at the rate of 31.6725% (i.e., IT: 30%, SC: 2.5%, EC: 206 and SHEC: 1%) if payment/credit exceeds Rs.1
crore.
-
There
are no separate provisions under Section
194B for deduction of tax at a lower rate than what is prescribed
above
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