Rates for TDS in certain cases

PART II

Rates for deduction of tax at source in certain cases

In every case in which under the provisions of sections 193, 194, 194A, 194B, 194BB, 194D and 195 of the Income-tax Act, tax is to be deducted at the rates in force, deduction shall be made from the income subject to the deduction at the following rates:

	Rate of income-tax
	1. In the case of a person other than a company
		(a) where the person is resident in India
		(i) on income by way of interest other than Interest on securities	10 per cent;
		(ii) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort	30 per cent;
		(iii) on income by way of winnings from horse races	30 per cent;
		(iv) on income by way of insurance commission	10 per cent;
		(v) on income by way of interest payable on	10 per cent;
		(A) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;
		(B) any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder;
		(C) any security of the Central or State Government
		(vi) on any other income	10 per cent;
		(b) where the person is not resident in India
		(i) in the case of a non-resident Indian
		(A) on any investment income	20 per cent;
		(B) on income by way of long-term capital gains referred to in section 115E	10 per cent;
		(C) on income by way of short-term capital gains referred to in section 111A	15 per cent;
		(D) on other income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of section 10]	20 per cent;
		(E) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency	20 per cent;
		(F) on income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of section 115A of the Income-tax Act, to a person resident in India
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(G) on income by way of royalty [not being royalty of the nature referred to in sub-item (b)(i)(F)] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(H) on income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(I) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort	30 per cent;
		(J) on income by way of winnings from horse races	30 per cent;
		(K) on the whole of the other income	30 per cent;
		(ii) in the case of any other person
		(A) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency	20 per cent;
		(B) on income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of section 115A of the Income-tax Act, to a person resident in India
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(C) on income by way of royalty [not being royalty of the nature referred to in sub-item (b)(ii)(B)] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(D) on income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(I) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(II) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(E) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort	30 per cent;
		(F) on income by way of winnings from horse races	30 per cent;
		(G) on income by way of short-term capital gains referred to in section 111A	15 per cent;
		(H) on income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of section 10]	20 per cent;
		(I) on the whole of the other income	30 per cent.
2. In the case of a company
		(a) where the company is a domestic company
		(i) On income by way of interest other than Interest on securities	10 per cent;
		(ii) On income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort	30 per cent;
		(iii) On income by way of winnings from horse races	30 per cent;
		(iv) On any other income	10 per cent;
		(b) where the company is not a domestic company
		(i) On income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort	30 per cent;
		(ii) On income by way of winnings from horse races	30 per cent;
		(iii) On income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency	20 per cent;
		(iv) On income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1976 where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of section 115A of the Income-tax Act, to a person resident in India
		(A) where the agreement is made before the 1st day of June, 1997	30 per cent;
		(B) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(C) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(v) On income by way of royalty [not being royalty of the nature referred to in sub-item (b)(iv)] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(A) where the agreement is made after the 31st day of March, 1961 but before the 1st day of April, 1976	50 per cent;
		(B) where the agreement is made after the 31st day of March, 1976 but before the 1st day of June, 1997	30 per cent;
		(C) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(D) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(vi) on income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy
		(A) where the agreement is made after the 29th day of February, 1964 but before the 1st day of April, 1976	50 per cent;
		(B) where the agreement is made after the 31st day of March, 1976 but before the 1st day of June, 1997	30 per cent;
		(C) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005	20 per cent;
		(D) where the agreement is made on or after the 1st day of June, 2005	10 per cent;
		(vii) on income by way of short-term capital gains referred to in section 111A	15 per cent;
		(viii) on income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of section 10]	20 per cent;
		(ix) on any other income	40 per cent
		Explanation.For the purpose of item 1(b)(i) of this Part, investment income and non-resident Indian shall have the meanings assigned to them in Chapter XII-A of the Income-tax Act.

 

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