TDS Tax deduction at source rates 2012

 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 rate

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 percent;

(ii) On income by way of winnings from lotteries, crossword puzzles, card games and other games.                            30 percent;

(iii) On income by way of winnings from horse races      30 percent;
(iv) On income by way of insurance commission             10 percent

(v) on income by way of interest payable on— 10 percent;

(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 recognized stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made there under;

(C) any security of the Central or State Government

(vi) on any other income 10 percent;

(b) where the person is not resident in India—

(i) in the case of a non-resident Indian—
(A) on any investment income    -   20 percent;

(B) on income by way of long-term capital gains referred to in section 115E or sub-clause (iii) of clause (c) of sub-section (1) of section 112-      10 percent;

(C) on income by way of short-term capital gains referred to in section111A-  15 percent;

(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 section10]-          20 percent;
(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 (not being income by way of interest referred to in section 194LB or section 194LC)-        20 percent;

(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 license) 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 subsection (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 20 per day of June, 2005                                         percent;
(II) where the agreement is made on or after the 1st day of June, 2005-      10 percent;

(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 percent;

(II) where the agreement is made on or after the 1st day of June, 2005 -   10 percent;

(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 percent;
(II) where the agreement is made on or after the 1st day of June, 2005 - 10 percent;
(I) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort­-      30 percent;

(J) on income by way of winnings from horse races-    30 percent;
(K) on the whole of the other income ­­­­-           30 percent;

(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 (not being income by way of interest referred to in section 194LB or section194LC)-         20 percent;

(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 license) 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 subsection (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 percent;
(II) where the agreement is made on or after the 1st day of June, 2005-     10 percent;

(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 percent;
(II) where the agreement is made on or after the 1st day of June, 2005-     10 percent;

(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 percent;
(II) where the agreement is made on or after the 1st day of June, 2005-      10 percent;
(E) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort-     30 percent;
(F) on income by way of winnings from horse races -    30 percent;
(G) on income by way of short-term capital gains referred to in section 111A-     15 percent;

(H) on income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of section 112-   10 percent;
(I) 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 percent;

(J) on the whole of the other income-    30 percent;

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 percent;
(ii) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort- 
30 percent;
(iii) on income by way of winnings from horse races-    30 percent;
(iv) on any other income-     10 percent;

(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 percent;
(ii) on income by way of winnings from horse races -   30 percent;
(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 (not being income by way of interest referred to in section 194LB or section 194LC)-   20 percent;

(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 inconsideration for the transfer of all or any rights (including the granting of a license) 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 percent;

(B) where the agreement is made on or after the 1st day of June, 1997 20 per but before the 1st day of June, 2005           cent;

(C) where the agreement is made on or after the 1st day of June, 2005-      10 percent;

(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 percent;
(B) where the agreement is made after the 31st day of March, 1976 but before the 1st day of June, 1997-    30 percent;
(C) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005-   20 percent;

(D) where the agreement is made on or after the 1st day of June, 2005 - 10 percent;

(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 percent;

(B) where the agreement is made after the 31st day of March, 1976 but before the 1st day of June, 1997 -  30 percent;

(C) where the agreement is made on or after the 1st day of June, 1997 but before the 1st day of June, 2005- 20 percent;

(D) where the agreement is made on or after the 1st day of June, 2005 -    10 percent;

(vii) on income by way of short-term capital gains referred to in section 111A -    15 percent;

(viii) on income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-section (1) of section 112- 10 percent;

(ix) on other income by way of long-term capital gains [not being long-term 20 per capital gains referred to in clauses (33), (36) and (38) of section 10] cent;

(x) on any other income -    40 percent.

Explanation.—For the purpose of item 1(b)(i) of this Part, "investment income" and "non-resident Indian" shall have the meanings respectively assigned to them in Chapter XII-A of the Income-tax Act.

Surcharge on income-tax
The amount of income-tax deducted in accordance with the provisions of item 2(b) of this Part, shall be increased by a surcharge, for purposes of the Union, in the case of every company other than a domestic company, calculated at the rate of two per cent of such income-tax where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees.
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