TDS with PAN for the Financial year 2016-17 A.Y 2017-18
TDS Payment on salary & wages
TDS is deducted only if the estimated income of the employee is taxable. Emloyer must not
deduct tax on non taxable allowance like conveyance allowance, rent allowances, medical
allowance and deductible investiments under section like 80C, 80CC, 80D, 80DD, 80DDB, 80E
, 80GG & 80U. No tax is requaired to be deducted at source if the estimated total income of the
employee is less then the minimum taxable income as per slab rate.
TDS Calculation
Gross salary Package
(-) Allowances u/s 10
(-) Deduction u/s 80
--------------------------
Estimated Taxable salary
-------------------------
Tax (as per slab rate)
add : 3% cess
-------------------------
Estimated Taxable Payable
-------------------------
Divided By 12 Months
= TDS Payable per month on salary
For Example, if your salary Package is Rs. 500000/-
Per annum which include Rs. 60000/- as allowance u/s 10 (such as medical, Travel allowance etc.
PLUS you have made Rs. 50000/- investiment which are eligible for deduction u/s 80C to 80U
Tax Payable by you is rs. 12360/- and tds payable is 1030 P.M
calculated as under :
Gross salary Package = 500000
(-) Allowances u/s 10 = 60000
(-) Deduction u/s 80 = 50000
---------------------------------------
Estimated Taxable salary = 390000
---------------------------------------
(-) Tax (as per Slab rate = 14000
(-) Rabate u/s 87A = 2000
Add : 3% Cess = 360/-
=========================
Estimated Taxable Payable = 12360/-
=========================
Divided by 12 Months
= Rs. 1030/- TDS Payable per month
========================
TDS UNDER SECTION 192A
========================
Under this section TDS is Payable on premature withdrawal from EPF
Exemption Amount = Rs. 50000/-
TDS on individual / HUF = 10%
TDS on Others = 10%
****IMPORTANT ****
* TDS WILL BE DEDUCTED @10% IF PAN NUMBER SUBMMITED
IN CASE FORM NO 15G OR 15 H IS SUBMMITED BY THE MEMBER THEN
NO TDS SHALL BE DEDUCTED
========================
TDS UNDER SECTION 193
========================
Under this section TDS is Payable on interest received on debentures
Exemption Amount = Rs. 10000/-
TDS on individual / HUF = 10%
TDS on Others = 10%
========================
TDS UNDER SECTION 194A
========================
Under this section TDS is Payable on interest other then Securities
Exemption = Rs. 10000/- in case of Bank interest and Rs. 5000/- in case of others
TDS on individual / HUF = 10%
TDS on Others = 10%
========================
TDS UNDER SECTION 194B
========================
Under this section Tds us payable on winning from LOTTERIES
Exemption = Rs. 10000/-
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 194BB
========================
Under this section Tds us payable on winning from Horse Races
Exemption = Rs. 10000/-
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 194C
========================
Under this Section TDS is Payable on Payment to Contractor or Sub Contractor.
Exemption = Rs. 30000/-(Single Transection) Per Contract or
Rs. 100000/- per Annum (More Then One Transection)
TDS on individual / HUF = 1%
TDS on Others = 2%
========================
TDS UNDER SECTION 194D
========================
Under this Section TDS is payable on insurance Commission
Exemption = Rs. 15000/-
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194DA
========================
Under this Section TDS is payable on Payments made to LIFT INSURANCE POLICY
Exemption = Rs. 100000/-
TDS = 1%
========================
TDS UNDER SECTION 194EE
========================
Under this Section TDS is payable on Payment for National Saving Scheme
Exemption = Rs. 2500/-
TDS on individual / HUF = 10/-
TDS on Others = NA
========================
TDS UNDER SECTION 194F
========================
Under this Section TDS is payable on Commission payable Repurchase of Units
Exemption = Rs. 1500/-
TDS on individual / HUF = 20/-
TDS on Others = 20%
========================
TDS UNDER SECTION 194G
========================
Under this Section TDS is payable on Commission payable on sale of Lottery
Exemption = Rs. 15000/-
TDS on individual / HUF = 5%
TDS on Others = 5%
========================
TDS UNDER SECTION 194H
========================
Under this Section TDS is payable on Commission/Brokerage
Exemption = Rs. 15000/-
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194I
========================
Under this Section TDS is payable on Rent of Land & Building
Exemption = Rs. 180000/-
TDS on individual / HUF = 10/-
TDS on Others = 10%
========================
TDS UNDER SECTION 194I
========================
Under this Section TDS is payable on Rent of Rent of Machinery
Exemption = Rs. 180000/-
TDS on individual / HUF = 2/-
TDS on Others = 2%
========================
TDS UNDER SECTION 194IA
========================
Under this Section TDS is payable on Transfer of Immovable Property
Exemption = Rs. 5000000/-
TDS on individual / HUF = 1/-
TDS on Others = 1%
========================
TDS UNDER SECTION 194J
========================
Under this Section TDS is payable on Commission or Remuneration paid to Director/ Professional Fees
Exemption = Rs. 30000/-
TDS on individual / HUF = 10/-
TDS on Others = 10%
========================
TDS UNDER SECTION 194LB
========================
Under this Section TDS is payable on interest from infrastructure Debt Fund
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194LC
========================
Under this Section TDS is payable on interest from specified indian Company
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on LTCG (Long term Capital Gain) to non Resident
TDS on individual / HUF = 20/-
TDS on Others = 20%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on Rent to Non Resident
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on Royality to Non Resident
TDS on individual / HUF = 50%
TDS on Others = 50%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on winning from Lottery / Horse Race to Non Resident
TDS on individual / HUF = 30%
TDS on Others = 30%
TDS Payment on salary & wages
TDS is deducted only if the estimated income of the employee is taxable. Emloyer must not
deduct tax on non taxable allowance like conveyance allowance, rent allowances, medical
allowance and deductible investiments under section like 80C, 80CC, 80D, 80DD, 80DDB, 80E
, 80GG & 80U. No tax is requaired to be deducted at source if the estimated total income of the
employee is less then the minimum taxable income as per slab rate.
TDS Calculation
Gross salary Package
(-) Allowances u/s 10
(-) Deduction u/s 80
--------------------------
Estimated Taxable salary
-------------------------
Tax (as per slab rate)
add : 3% cess
-------------------------
Estimated Taxable Payable
-------------------------
Divided By 12 Months
= TDS Payable per month on salary
For Example, if your salary Package is Rs. 500000/-
Per annum which include Rs. 60000/- as allowance u/s 10 (such as medical, Travel allowance etc.
PLUS you have made Rs. 50000/- investiment which are eligible for deduction u/s 80C to 80U
Tax Payable by you is rs. 12360/- and tds payable is 1030 P.M
calculated as under :
Gross salary Package = 500000
(-) Allowances u/s 10 = 60000
(-) Deduction u/s 80 = 50000
---------------------------------------
Estimated Taxable salary = 390000
---------------------------------------
(-) Tax (as per Slab rate = 14000
(-) Rabate u/s 87A = 2000
Add : 3% Cess = 360/-
=========================
Estimated Taxable Payable = 12360/-
=========================
Divided by 12 Months
= Rs. 1030/- TDS Payable per month
========================
TDS UNDER SECTION 192A
========================
Under this section TDS is Payable on premature withdrawal from EPF
Exemption Amount = Rs. 50000/-
TDS on individual / HUF = 10%
TDS on Others = 10%
****IMPORTANT ****
* TDS WILL BE DEDUCTED @10% IF PAN NUMBER SUBMMITED
IN CASE FORM NO 15G OR 15 H IS SUBMMITED BY THE MEMBER THEN
NO TDS SHALL BE DEDUCTED
========================
TDS UNDER SECTION 193
========================
Under this section TDS is Payable on interest received on debentures
Exemption Amount = Rs. 10000/-
TDS on individual / HUF = 10%
TDS on Others = 10%
========================
TDS UNDER SECTION 194A
========================
Under this section TDS is Payable on interest other then Securities
Exemption = Rs. 10000/- in case of Bank interest and Rs. 5000/- in case of others
TDS on individual / HUF = 10%
TDS on Others = 10%
========================
TDS UNDER SECTION 194B
========================
Under this section Tds us payable on winning from LOTTERIES
Exemption = Rs. 10000/-
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 194BB
========================
Under this section Tds us payable on winning from Horse Races
Exemption = Rs. 10000/-
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 194C
========================
Under this Section TDS is Payable on Payment to Contractor or Sub Contractor.
Exemption = Rs. 30000/-(Single Transection) Per Contract or
Rs. 100000/- per Annum (More Then One Transection)
TDS on individual / HUF = 1%
TDS on Others = 2%
========================
TDS UNDER SECTION 194D
========================
Under this Section TDS is payable on insurance Commission
Exemption = Rs. 15000/-
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194DA
========================
Under this Section TDS is payable on Payments made to LIFT INSURANCE POLICY
Exemption = Rs. 100000/-
TDS = 1%
========================
TDS UNDER SECTION 194EE
========================
Under this Section TDS is payable on Payment for National Saving Scheme
Exemption = Rs. 2500/-
TDS on individual / HUF = 10/-
TDS on Others = NA
========================
TDS UNDER SECTION 194F
========================
Under this Section TDS is payable on Commission payable Repurchase of Units
Exemption = Rs. 1500/-
TDS on individual / HUF = 20/-
TDS on Others = 20%
========================
TDS UNDER SECTION 194G
========================
Under this Section TDS is payable on Commission payable on sale of Lottery
Exemption = Rs. 15000/-
TDS on individual / HUF = 5%
TDS on Others = 5%
========================
TDS UNDER SECTION 194H
========================
Under this Section TDS is payable on Commission/Brokerage
Exemption = Rs. 15000/-
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194I
========================
Under this Section TDS is payable on Rent of Land & Building
Exemption = Rs. 180000/-
TDS on individual / HUF = 10/-
TDS on Others = 10%
========================
TDS UNDER SECTION 194I
========================
Under this Section TDS is payable on Rent of Rent of Machinery
Exemption = Rs. 180000/-
TDS on individual / HUF = 2/-
TDS on Others = 2%
========================
TDS UNDER SECTION 194IA
========================
Under this Section TDS is payable on Transfer of Immovable Property
Exemption = Rs. 5000000/-
TDS on individual / HUF = 1/-
TDS on Others = 1%
========================
TDS UNDER SECTION 194J
========================
Under this Section TDS is payable on Commission or Remuneration paid to Director/ Professional Fees
Exemption = Rs. 30000/-
TDS on individual / HUF = 10/-
TDS on Others = 10%
========================
TDS UNDER SECTION 194LB
========================
Under this Section TDS is payable on interest from infrastructure Debt Fund
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 194LC
========================
Under this Section TDS is payable on interest from specified indian Company
TDS on individual / HUF = 5/-
TDS on Others = 5%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on LTCG (Long term Capital Gain) to non Resident
TDS on individual / HUF = 20/-
TDS on Others = 20%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on Rent to Non Resident
TDS on individual / HUF = 30%
TDS on Others = 30%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on Royality to Non Resident
TDS on individual / HUF = 50%
TDS on Others = 50%
========================
TDS UNDER SECTION 195
========================
Under this Section TDS is payable on winning from Lottery / Horse Race to Non Resident
TDS on individual / HUF = 30%
TDS on Others = 30%
