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TDS Rate Chart for FY 2016-17 AY 2017-18

The Income tax department made many changes in TDS rates as well as in cut off limits for FY 2016-17 which are applicable from 1 June 2016. So we need both before 1 June 2016 and after 1 june 2016 chart for calculating TDS for the finanbcial year 2016-17 pertaining to Analysis year 2017-18.

Some Points also should note about TDS Chart below.

1. No TDS on service Tax: As per circular 01/2014 dated 13.01.2014 TDS is not applicable on service tax part if service tax is shown separately. 

2. TDS at higher rate i.e., 20% has to be deducted if the deductee does not provide PAN to the deductor.(read detail u/s 206AA) 

3. TDS on Good Transport w.e.f 01.06.2015 : TDS shall be applicable on payment to transporter wef 01.06.2015 .However Tds exemption will be available only to those transporters who own ten or less goods carriages at any time during the previous year. Such a transporter would also need to furnish a declaration to that effect to the payer along with the PAN.

4. Surcharge on TDS on salary is applicable if taxable salary is more than one crore @ 15 % 

5. Surcharge on tax other than salary is not deductible/collectible at source in case of resident individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary. 

6. Surcharge on TDS is applicable on payment made to non resident other than company ,if payment is in excess of one crores.(15 %) (See chart below for details )

7. TDS is deductible on full amount if threshold limit is crossed during the year including the amount paid earlier during the year along with interest ,if applicable.

8. No Cess on payment made to resident: Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company. 

9. Section 206AA in the Act makes furnishing of PAN by the employee compulsory in case of receipt of any sum or income or amount, on which tax is deductible. If employee (deductee) fails to furnish his/her PAN to the deductor , the deductor has been made responsible to make TDS at higher of the following rates: 

i) at the rate specified in the relevant provision of this Act; or 

ii) at the rate or rates in force; or 

iii) at the rate of twenty per cent. The deductor has to determine the tax amount in all the three conditions and apply the higher rate of TDS. 

However, where the income of the employee computed for TDS u/s 192 is below taxable limit, no tax will be deducted. But where the income of the employee computed for TDS u/s 192 is above taxable limit, the deductor will calculate the average rate of income-tax based on rates in force as provided in sec 192. If the tax so calculated is below 20%, deduction of tax will be made at the rate of 20% and in case the average rate exceeds 20%, tax is to deducted at the average rate. Education cess @ 2% and Secondary and Higher Education Cess @ 1% is not to be deducted, in case the tax is deducted at 20% u/s 206AA of the Act.

TDS RATE CHART FOR FY 21016-17 AY 2017-18 (1-4-2016 to 31-05-2016)
Sec	Nature	Cut-off	Indiviual/HUF	Others
192	Salaries	-	Avg Rates	NA
192A	Premature withdrawl from EPF	30000	10	NA
193	Interest on Securities	10000	10
194	Dividends	2500	10
194A	Interest Banks	10000	10
194A	Interest Others	5000	10
194B	Winning from Lotteries	10000	30
194BB	Winning from Horse Race	5000	30
194C	Contractor-Single/Yearly	30000/75000	1	2
	Transporter 44AE Declaration with PAN	do	-	-
194D	Insurance Commission	20000	10
194DA	Life Insurance Policy	100000	2%
194EE	NSS	2500	20%	NA
194G	Commission/Lottery	1000	10%
194H	Commission/Brokerage	5000	10%
194I	Rent Land & Building	180000	10%
	Rent Plant/Machinery./Equipments		2%
194IA	Immovable Property	50 Lakh	1
194J	Professional Fees	30000	10%
194LA	Immovable Property (Sale)	2 Lakh	10%

TDS RATE CHART FOR FY 21016-17 AY 2017-18 (1-06-2016 to 31-03-2017)
Sec	Nature	Cut-off	Indiviual/HUF	Others
192	Salaries	-	Avg Rates	NA
192A	Premature withdrawl from EPF	50000	10	NA
193	Interest on Securities	10000	10
194	Dividends	2500	10
194A	Interest Banks	10000	10
194A	Interest Others	5000	10
194B	Winning from Lotteries	10000	30
194BB	Winning from Horse Race	10000	30
194C	Contractor-Single/Yearly	30000/1 Lakh	1	2
	Transporter 44AE Declaration with PAN	do	-	-
194D	Insurance Commission	15000	5%
194DA	Life Insurance Policy	100000	1%
194EE	NSS	2500	10%	NA
194G	Commission/Lottery	15000	5%
194H	Commission/Brokerage	15000	5%
194I	Rent Land & Building	180000	10%
	Rent Plant/Machinery./Equipments		2%
194IA	Immovable Property	50 Lakh	1
194J	Professional Fees	30000	10%
194LA	Immovable Property (Sale)	2.5 Lakh	10%

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