April 18, 2023 1

April 18, 2023 2

IntroductionIntroduction

What is Tax Deducted at source ?What is Tax Deducted at source ?

Income – Tax is Collected/recovered at two stages, namely pre-Income – Tax is Collected/recovered at two stages, namely pre-assessment stage and post assessment stage. The method by which assessment stage and post assessment stage. The method by which pre-assessment tax are collected is in the following manner at different pre-assessment tax are collected is in the following manner at different stages namely,stages namely,

Advance Tax.Advance Tax. Tax Deducted at source.Tax Deducted at source. Tax Collected at Source.Tax Collected at Source.

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Objectives of introduction of Tax Objectives of introduction of Tax Deducted at Source.Deducted at Source.

It helps in reporting the correct Incomes.It helps in reporting the correct Incomes. It helps in checking Tax evasion.It helps in checking Tax evasion. Early collection of revenue by the Government.Early collection of revenue by the Government. It is the cheapest mode of collection of tax.It is the cheapest mode of collection of tax. It helps to widen the tax base as more and more people are It helps to widen the tax base as more and more people are

covered.covered.

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1.The Income Tax Act requires the person on whom the responsibility 1.The Income Tax Act requires the person on whom the responsibility has been cast to deduct tax (at the appropriate rate(s) ) from the has been cast to deduct tax (at the appropriate rate(s) ) from the payment of specified type and category.payment of specified type and category.

2.The deducted sum is required to be deposited to the credit of central 2.The deducted sum is required to be deposited to the credit of central Government in the prescribed mode/manner & with in the specified Government in the prescribed mode/manner & with in the specified time limit.time limit.

3.The Recipient (Payee/Assessee) from whose income tax has been 3.The Recipient (Payee/Assessee) from whose income tax has been deducted at sources, gets the credit for such tax deducted in his deducted at sources, gets the credit for such tax deducted in his

personal assessment against the tax liabilitypersonal assessment against the tax liability..

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Need for Tax Deducted at Need for Tax Deducted at SourceSource

To comply with the mandatory provisions of the ActTo comply with the mandatory provisions of the Act

To avoid disallowance of certain expenditure under the Income To avoid disallowance of certain expenditure under the Income tax act 1961.tax act 1961.

To avoid penalty and mandatory Interest for not deducting/short To avoid penalty and mandatory Interest for not deducting/short deduction/non payment/delay in payment of Tax Deducted at deduction/non payment/delay in payment of Tax Deducted at Source.Source.

To avoid Prosecution under Sec.276B of the Income Tax Act To avoid Prosecution under Sec.276B of the Income Tax Act 1961.1961.

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Important Provisions of TDSImportant Provisions of TDS SectionSection Type of PaymentType of Payment

192192 Payment of Salaries.Payment of Salaries.

194A194A Payment of Interest ( other than interest on securities).Payment of Interest ( other than interest on securities).

194C194C Payment to any contractor or Sub-Contractor.Payment to any contractor or Sub-Contractor.

194H194H Payment of Commission or Brokerage.Payment of Commission or Brokerage.

194I194I Payment of Rent.Payment of Rent.

194J194J Payment of any Professional fees.Payment of any Professional fees.

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TDS RATES CHARTTDS RATES CHART

SectionSection Nature of paymentsNature of payments

w.e.f w.e.f 01.04.1501.04.15

Rs.Rs.

Rate in %Rate in %

IndividualIndividuals& HUFs& HUF OthersOthers

194A194A Interest From BankInterest From Bank 1000010000 1010 1010

194A194A Other InterestOther Interest 50005000 1010 1010

194C194CPayment to Contractor/ Payment to Contractor/

Sub Contractor/Sub Contractor/30000 (75000 30000 (75000

in year)in year) 11 22

194H194H Commission/BrokerageCommission/Brokerage 50005000 1010 1010

194I194I Rent-propertyRent-property 180000180000 1010 1010

194I194I Rent-Plant/ MachineryRent-Plant/ Machinery 180000180000 22 22

194J194J Professional FeesProfessional Fees 3000030000 1010 1010

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NOTE 1NOTE 1. Payment made to transporter . Payment made to transporter **, TDS is not required if PAN is , TDS is not required if PAN is provided by the Transporter.provided by the Transporter.

NOTE 2NOTE 2. Surcharge and Cess is not applicable on TDS from 1.04.09 . Surcharge and Cess is not applicable on TDS from 1.04.09 on any payment made to resident.on any payment made to resident.

NOTE 3NOTE 3. If PAN is not provided by the deductee then rate as per . If PAN is not provided by the deductee then rate as per above table or 20% whichever is higher is to be charged (effective above table or 20% whichever is higher is to be charged (effective from 1.04.10 section 2006AA)from 1.04.10 section 2006AA)

* Engaged in the business of plying ,hiring or leasing goods carriages* Engaged in the business of plying ,hiring or leasing goods carriages

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TIME OF TAX DEDUCTIONTIME OF TAX DEDUCTION

TAX DEDUCTEDTAX DEDUCTED SECTIONSSECTIONSAT THE TIME OF PAYMENTAT THE TIME OF PAYMENT 192,194,194B,194BB,194EE,192,194,194B,194BB,194EE,

194F194F

AT THE TIME OF PAYMENT AT THE TIME OF PAYMENT OR CREDITOR CREDIT

193,194A,194C,194D,194E,194G, 193,194A,194C,194D,194E,194G, 194H, 194I,194J,195194H, 194I,194J,195

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Sec. – 192 – Payment of SalariesSec. – 192 – Payment of Salaries Tax is to be deducted on income chargeable under Salaries and paid by Tax is to be deducted on income chargeable under Salaries and paid by

the employerthe employer

The liability to deduct the tax arises only at the time of The liability to deduct the tax arises only at the time of payment of salarypayment of salary. . It means if provision for salary has been made and the same has not It means if provision for salary has been made and the same has not been paid then deduction of tax does not arisebeen paid then deduction of tax does not arise**. .

Any person responsible for payment of salary, is liable to deduct the tax. Any person responsible for payment of salary, is liable to deduct the tax. The status of the employer is not relevant for deduction of tax. The The status of the employer is not relevant for deduction of tax. The liability to deduct the tax arises even if the person carries on business or liability to deduct the tax arises even if the person carries on business or not. not.

Where an employee is in employment of more than one employer, tax will Where an employee is in employment of more than one employer, tax will be deducted at source by the employer, which the employee chooses or be deducted at source by the employer, which the employee chooses or the present employer.the present employer.

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The employee may furnish to the employer details of income chargeable to tax under other heads of income (not being loss except loss under the head Income from House Property and tax deducted on the same). In such a case employer shall deduct tax due on total income. However, total amount of tax deducted should not be less than the amount of tax deductible from salary except where the loss under the head Income from House Property has been taken into account.

* No deduction on mere accrual of salary- (CIT v. Tej Quebecor Printing Ltd[2006]151 Taxman 210) (Del)(CIT v. Tej Quebecor Printing Ltd[2006]151 Taxman 210) (Del)

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Rates of Taxes for IndividualRates of Taxes for Individual

Rebate U/s 87A Rs.2,000 if salary does not increase Rs.5.00 Rebate U/s 87A Rs.2,000 if salary does not increase Rs.5.00 lacslacs The above amount has to be increased by education cess at The above amount has to be increased by education cess at 2%2%

RatesRates Super Super Senior Senior CitizenCitizen

Senior Senior CitizenCitizen

OthersOthers

NilNil Rs. Rs. 5,00,0005,00,000

Rs.3,00,00Rs.3,00,0000

Rs.2,50,00Rs.2,50,0000

10%10% NilNil Rs.3,00,00Rs.3,00,000 to 0 to 5,00,0005,00,000

Rs. Rs. 2,50,000 to 2,50,000 to 5,00,0005,00,000

20%20% Rs.5,00,00Rs.5,00,000 to 0 to 10,00,00010,00,000

Rs.5,00,00Rs.5,00,000 to 0 to 10,00,00010,00,000

Rs.5,00,00Rs.5,00,000 to 0 to 10,00,00010,00,000

30%30% More than More than Rs Rs 10,00,00010,00,000

More than More than Rs Rs 10,00,00010,00,000

More than More than Rs Rs 10,00,00010,00,000

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Sec 194A – InterestSec 194A – Interest other than other than Interest on SecuritiesInterest on Securities

Any person (except on individual or a HUF) responsible for paying Any person (except on individual or a HUF) responsible for paying interest other than interest on securities to a resident is required to interest other than interest on securities to a resident is required to deduct tax at Source at the rate of 10% for the Financial year 2010-11.deduct tax at Source at the rate of 10% for the Financial year 2010-11.

TDS is required to be deducted either at the time of credit of such TDS is required to be deducted either at the time of credit of such income to the payees account or at the time of payment, whichever is income to the payees account or at the time of payment, whichever is earlier. earlier.

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No tax is deducted in case where the aggregate amount of interest No tax is deducted in case where the aggregate amount of interest does not exceed Rs.5,000/-. In case of term deposits with banks or does not exceed Rs.5,000/-. In case of term deposits with banks or Cooperative Society and Housing Finance Companies, no tax is Cooperative Society and Housing Finance Companies, no tax is required to be deducted upto an aggregate interest of Rs.10,000/-.required to be deducted upto an aggregate interest of Rs.10,000/-.

No tax is required to be deducted in case of interest paid/credited to No tax is required to be deducted in case of interest paid/credited to any banking company/financial corporation, LIC, UTI, etcany banking company/financial corporation, LIC, UTI, etc

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Sec. 194C – Payment to Sec. 194C – Payment to ContractorsContractors

Any person (other than individual and HUF) paying any sum to any Any person (other than individual and HUF) paying any sum to any resident contractors for carrying out any work (including supply of resident contractors for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between labour for carrying out any work) in pursuance of a contract between the resident contractor and specified person is required to deduct tax the resident contractor and specified person is required to deduct tax at source. at source.

TDS rate is 1% if recipient is individual/ HUF or 2% for any other TDS rate is 1% if recipient is individual/ HUF or 2% for any other person.person.

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Tax is required to be deducted either the time of credit of the sum paid Tax is required to be deducted either the time of credit of the sum paid to the account of the payee or at the time of payment in cash or by to the account of the payee or at the time of payment in cash or by cheque or by any other mode, whichever is earlier.cheque or by any other mode, whichever is earlier.

The tax will be required to be deducted at source where the amount The tax will be required to be deducted at source where the amount credited or paid to the contractor or a sub-contractor exceeds Rs.30,000 credited or paid to the contractor or a sub-contractor exceeds Rs.30,000 in a single payment or Rs.75,000 in the aggregate during the financial in a single payment or Rs.75,000 in the aggregate during the financial year.year.

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“Work” shall include –

(a) Advertising

(b) Broadcasting and telecasting including the production of programmes for such broadcasting or telecasting including production of programmes for such broadcasting or telecasting;

(c) Carriage of goods or passengers by any mode of transport other than by railways;

(d) Catering

(e) Manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from such customers,

but does not include manufacturing or supplying a product according to the requirement or specification of a customer by using material purchase from a person, other than such customer.

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Section 194H – Commission or Section 194H – Commission or BrokerageBrokerage

Any person other than an individual or Hindu Undivided Family who is Any person other than an individual or Hindu Undivided Family who is responsible for paying on or after 1st June, 2001, to a resident, any responsible for paying on or after 1st June, 2001, to a resident, any income by way of commission (other than insurance commission income by way of commission (other than insurance commission referred to in section 194D), or brokerage, is required to deduct tax at referred to in section 194D), or brokerage, is required to deduct tax at the rate of 10%.the rate of 10%.

No deduction is required to be made where the amount of such No deduction is required to be made where the amount of such income or the aggregate of the amounts of such income credited/paid income or the aggregate of the amounts of such income credited/paid during the financial year does not exceed Rs.during the financial year does not exceed Rs.5,000 .5,000 .

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SSection ection 194 I – Rent194 I – Rent

Any person (other than an individual or Hindu Undivided Family) Any person (other than an individual or Hindu Undivided Family) responsible for paying rent to resident any income by way of rent is responsible for paying rent to resident any income by way of rent is required to deduct tax.required to deduct tax.

‘‘Rent’ means any payment by whatever nature called, under any lease, Rent’ means any payment by whatever nature called, under any lease, sublease, tenancy or any other agreement or arrangement for the use of sublease, tenancy or any other agreement or arrangement for the use of (either separately or together) any:(either separately or together) any:

(i) land, or(i) land, or (ii) building (including factory building), or(ii) building (including factory building), or (iii) land appurtenant to a building (including a factory building), or(iii) land appurtenant to a building (including a factory building), or (iv) machinery, or(iv) machinery, or (v) plant, or(v) plant, or

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(vi) equipment, or(vi) equipment, or

(vii) furniture, or(vii) furniture, or

(viii) fittings(viii) fittings

From 1st June, 2002 an individual or a Hindu Undivided Family whose total sales or gross receipts or turnover from business exceeds Rs.40 lacs (60 Lakhs w.e.f. 1.04.2011) (60 Lakhs w.e.f. 1.04.2011) or whose gross receipts from profession exceeds Rs.10 lacs (15 Lakhs w.e.f. 1.04.2011)(15 Lakhs w.e.f. 1.04.2011) during the financial year immediately preceding the financial year in which such sum is credited or paid shall be liable to deduct tax at source.

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Rate of deduction of tax – Sec 194IRate of deduction of tax – Sec 194I

21

Asset on which Asset on which payment is madepayment is made

Payee being – Payee being – Individual.Individual.

Payee being –other Payee being –other than Individual.than Individual.

Land or building or furniture or fixtures.

10% if Payment or Credit exceeds or likely to exceed Rs.1,80,000 in aggregate in the previous year.

10% if Payment or Credit exceeds or likely to exceed Rs.1,80,000 in aggregate in the previous year.

Machinery or plant or equipment

2% if Payment or Credit exceeds or likely to exceed Rs.1,80,000 in aggregate in the previous year.

2% if Payment or Credit exceeds or likely to exceed Rs.1,80,000 in aggregate in the previous year.

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Sec-194J – Fees for Professional Sec-194J – Fees for Professional or Technical Services.or Technical Services.

Any person (other than individual or HUF) responsible for Any person (other than individual or HUF) responsible for paying to a resident fee for professional services or fee for paying to a resident fee for professional services or fee for technical services is required to deduct tax on the income technical services is required to deduct tax on the income comprised therein at the rate of 10% for financial year 2010-11.comprised therein at the rate of 10% for financial year 2010-11.

““Professional services” means services rendered by a person in Professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or the course of carrying on legal, medical, engineering or architectural profession or the profession of accountancy or architectural profession or the profession of accountancy or technical consultancy or interior decoration or advertising or technical consultancy or interior decoration or advertising or such other profession as is notified by the Board for the such other profession as is notified by the Board for the purpose of section 44AA or of this section.purpose of section 44AA or of this section.

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““Fees for technical services” shall have the same meaning as in Fees for technical services” shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9 – Explanation 2 to clause (vii) of sub-section (1) of section 9 – For the For the purpose of this clause “Fees for technical services” means: any purpose of this clause “Fees for technical services” means: any consideration (including any lump sum consideration) for the consideration (including any lump sum consideration) for the rendering of any managerial, technical or consultancy services rendering of any managerial, technical or consultancy services (including the provisions of services of technical or other (including the provisions of services of technical or other personnel), but does not include consideration for any personnel), but does not include consideration for any construction, assembly, mining or like product undertaken by the construction, assembly, mining or like product undertaken by the recipient or consideration which would be income of the recipient recipient or consideration which would be income of the recipient chargeable under the head ‘salaries’.chargeable under the head ‘salaries’.

The tax is required to be deducted at the time of credit of such income The tax is required to be deducted at the time of credit of such income to the account of the payee or at the time of payment in cash or by issue to the account of the payee or at the time of payment in cash or by issue of cheques or drafts or by any other mode whichever is earlier. No tax is of cheques or drafts or by any other mode whichever is earlier. No tax is required to be deducted in case amount of such sum or aggregate of required to be deducted in case amount of such sum or aggregate of amount of such sums credited or paid during the financial year does not amount of such sums credited or paid during the financial year does not exceed Rs.20,000/-( exceed Rs.20,000/-(Rs. 30,000 from July 1, 2010Rs. 30,000 from July 1, 2010).).

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With effect from 1st June, 2003 no individual or HUF With effect from 1st June, 2003 no individual or HUF shall be liable to deduct tax on fees for professional shall be liable to deduct tax on fees for professional services in case such sum is credited or paid services in case such sum is credited or paid exclusively for personal purposes of such individual exclusively for personal purposes of such individual or any member of HUF.or any member of HUF.

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Sec 195 – Payment to Non Sec 195 – Payment to Non ResidentsResidents

Any sum paid to Non Resident is subject to deduction of Tax at Any sum paid to Non Resident is subject to deduction of Tax at sourcesource

Rate of tax is prescribed in the Finance Act. However if the rates Rate of tax is prescribed in the Finance Act. However if the rates indicated in relevant DTAA is lower such lower rates are applicable.indicated in relevant DTAA is lower such lower rates are applicable.

Application can be made by payee to the Assessing Officer for Nil or Application can be made by payee to the Assessing Officer for Nil or lower rate deduction of tax at sourcelower rate deduction of tax at source

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Exemption from deduction of tax Exemption from deduction of tax at source in respect of at source in respect of

payments made to certain payments made to certain persons (Section 196)persons (Section 196)

GovernmentGovernment Reserve Bank of IndiaReserve Bank of India Corporation established by or under a Central Act whoseCorporation established by or under a Central Act whose

income is exempt from Income Taxincome is exempt from Income Tax Mutual Fund u/s 10(23D)Mutual Fund u/s 10(23D)

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Consequences of DefaultConsequences of Default

Liability u/s 201Liability u/s 201 Interest & PenaltyInterest & Penalty – – Assessee in default u/s 221 equal to the amount of tax in arrears.Assessee in default u/s 221 equal to the amount of tax in arrears. Interest @ 1% per month (1.5% w.e.f. 01.07.2010, in case tax deducted Interest @ 1% per month (1.5% w.e.f. 01.07.2010, in case tax deducted

but deposited late).but deposited late).

Both the above are consequences of Not deducting or Deducted and not Both the above are consequences of Not deducting or Deducted and not paying to the Central Government.paying to the Central Government.

After deducting not paying also leads to a charge being credited on the After deducting not paying also leads to a charge being credited on the assets of the payer.assets of the payer.

Section 271CSection 271C Penalty for failure to deduct tax at source as required or under the Penalty for failure to deduct tax at source as required or under the

provisions of Chapter XVII-B. provisions of Chapter XVII-B. Penalty Equal to Tax.Penalty Equal to Tax.

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Section 276BSection 276B

If a person fails to pay to the credit of Central Government, tax If a person fails to pay to the credit of Central Government, tax deducted at source by him as required by or under the provisions of deducted at source by him as required by or under the provisions of Chapter XVII-B.Chapter XVII-B.

Imprisonment Period 3 months to 7 years and with fine.Imprisonment Period 3 months to 7 years and with fine.

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Every person who at the time of offence was in charge of and was responsible to the company for the conduct of business of the company as well as the company shall be liable to be proceeded against.

If it is established that the offence was committed with the connivance of director, manager, secretary or other officer – such persons shall also be liable to be punished

In the case of imprisonment and the offence being committed by company, apart from fine on the company, officers responsible shall be liable to be proceeded against.

Section 278B – Prosecution - Offences by Companies

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Due dates for Payment of Tax deducted at Source – Rule30.

Sl.NSl.No.o.

Nature of PaymentNature of Payment Due DateDue Date

1 All Payments or Credits during the year (Other than last quarter)

Within 7 days from the end of the month in which payment is made

2 All Payments or Credits during the last quarter of the year .

Within 1 months from the end of the month in which payment is made.

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Certificate of Tax Deducted at Certificate of Tax Deducted at source to the payee – Sec203 and source to the payee – Sec203 and

rule 31.rule 31. In respect of cases where Salaries exceeds Minimum threshold limit in In respect of cases where Salaries exceeds Minimum threshold limit in

Form No. 16 and in other cases Form No. 16AAForm No. 16 and in other cases Form No. 16AA Other than Salaries - Other than Salaries - Form No. 16AForm No. 16A The certificates issued in Form No. 16 can be issued under Digital The certificates issued in Form No. 16 can be issued under Digital

Signature by virtue of Circular No. 2/2007 dated 21/05/2007Signature by virtue of Circular No. 2/2007 dated 21/05/2007 Due Dates by which certificate is to be submitted to the payee:Due Dates by which certificate is to be submitted to the payee: Salaries - Form No. 16 /16AA - within one month from the close of the Salaries - Form No. 16 /16AA - within one month from the close of the

financial yearfinancial year Other Payments – Form No. 16A – within one month from the end of the Other Payments – Form No. 16A – within one month from the end of the

month in which payment is made or where more than one payment is month in which payment is made or where more than one payment is made in a year at the request of the payee with in one month from the made in a year at the request of the payee with in one month from the end of the financial year.end of the financial year.

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Exceptions to the time limit Exceptions to the time limit specified for issuance of TDS specified for issuance of TDS

certificates.certificates.In respect of cases where deduction is by virtue of credit – within In respect of cases where deduction is by virtue of credit – within one week from the expiry of two months after the month of creditone week from the expiry of two months after the month of credit

Duplicate certificates can be issued on receipt of a letter on a plain Duplicate certificates can be issued on receipt of a letter on a plain paper from the payeepaper from the payee

Non Issuance of TDS certificates with in the due dates will attract a Non Issuance of TDS certificates with in the due dates will attract a penalty of Rs.100/- per delay under Sec.272A. penalty of Rs.100/- per delay under Sec.272A.

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Tax Deduction Account Number – Tax Deduction Account Number – (TAN) Sec.203A Read with Rule (TAN) Sec.203A Read with Rule

114A.114A.

Every person who is liable to deduct tax at source shall obtain a Every person who is liable to deduct tax at source shall obtain a TAN number within one month from the end of the month in which TAN number within one month from the end of the month in which tax has been deducted. Penalty for failure to obtain TAN is Rs. tax has been deducted. Penalty for failure to obtain TAN is Rs. 10,000 (Sec 272BB)10,000 (Sec 272BB)

An application for the allotment of a TAN shall be made in An application for the allotment of a TAN shall be made in duplicate in Form No. 49B.duplicate in Form No. 49B.

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E-TDS RETURNSE-TDS RETURNS

MeaningMeaning--

E-TDS return is a TDS return prepared in form No.24Q,26Q or 27Q inE-TDS return is a TDS return prepared in form No.24Q,26Q or 27Q in

electronic media as per prescribed data structure in either a floppy or a CD electronic media as per prescribed data structure in either a floppy or a CD ROM. The floppy or CD ROM prepared should be accompanied by a ROM. The floppy or CD ROM prepared should be accompanied by a signed verification in Form No.27A.signed verification in Form No.27A.

Need for filing e-TDS ReturnNeed for filing e-TDS Return – –

As per Section 206 of Income Tax Act all corporate and government As per Section 206 of Income Tax Act all corporate and government deductors are compulsorily required to file their TDS return on electronic deductors are compulsorily required to file their TDS return on electronic media (i.e. e-TDS returns). However, for other Deductors, filing of e-TDS media (i.e. e-TDS returns). However, for other Deductors, filing of e-TDS return is optional.return is optional.

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FORM NO.FORM NO. PARTICULARSPARTICULARS PERIODICITYPERIODICITY

Form 24Q Quarterly statement for tax deducted at source from "Salaries"

Quarterly

Form 26Q Quarterly statement of tax deducted at source in respect of all payments other than "Salaries

Quarterly

Form 27Q Quarterly statement of deduction of tax from interest, dividend or any other sum payable to non-residents

Quarterly

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Form 27A is a summary of TDS return (Form 24Q, 26Q or 27Q), Form 27A is a summary of TDS return (Form 24Q, 26Q or 27Q), which contains control totals of 'Amount Paid' and 'Income tax which contains control totals of 'Amount Paid' and 'Income tax

deducted at source'.deducted at source'.

QUARTER DUE DATE DUE DATE FOR 27Q

April to June July 15 14 July

July to September October 15 14 October

October to December January 15 14 January

January to March June 15 14 June

Sec. 206 and Rule 31ASec. 206 and Rule 31A

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Thank YouThank You