TDS ( Application )

Question 1

192-Payment of salary

Answer 1

Threshold Limit (Rs)=Basic exemption limit of employee TDS Rate=Normal Slab Rates

Question 2

192A-Premature withdrawal from EPF

Answer 2

Threshold Limit (Rs)=50,000 TDS Rate=10%

Question 3

193-Interest on securities

Answer 3

Threshold Limit (Rs)=
i. Debentures- 5,000
ii. 8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000
iii. Other securities- No limit
TDS Rate=10%

Question 4

194-Payment of any dividend

Answer 4

Threshold Limit (Rs)=5000 TDS Rate=10%

Question 5

194A-Interest from other than interest from securities (from deposits with banks/post office/co-operative society)

Answer 5

Threshold Limit (Rs)=i. Senior Citizens- 50,000
ii. Others- 40,000 TDS Rate=10%

Question 6

194A-Interest from other than interest on securities u/s 193 and interest from banks/post office/co-operative society.

Answer 6

Threshold Limit (Rs)=5000 TDS Rate=10%

Question 7

194B-Income from lottery winnings, card games, crossword puzzles, and other games of any type

Answer 7

Threshold Limit (Rs)=Aggregate income from lottery winnings, card games, crossword puzzles etc- 10,000 TDS Rate=30%

Question 8

194BA-Income from online games

Answer 8

Threshold Limit (Rs)=Nil TDS Rate=30%

Question 9

194BB-Income from horse race winnings

Answer 9

Threshold Limit (Rs)=10,000(Aggregate winnings during a financial year not single transaction) Single transaction- 30,000 TDS Rate=30%

Question 10

194C-Payment to contractor/sub-contractor:-
a) Individuals/HUF
b) Other than Individuals/HUF

Answer 10

Threshold Limit (Rs)=Single transaction- 30,000
Aggregate transactions- 1,00,000 TDS Rate=a. 1%
b. 2%

Question 11

194D-Insurance commission to:
a) Domestic Companies
b) Other than companies

Answer 11

Threshold Limit (Rs)=15000 0 TDS Rate=10%
5%

Question 12

194DA-Income from the insurance pay-out, while payment of any sum in respect of a life insurance policy.

Answer 12

Threshold Limit (Rs)=1,00,000 TDS Rate=5% (before 1st October 2024)
2% (from 1st October 2024)

Question 13

194E-Payment to non-resident sportsmen/sports association

Answer 13

Threshold Limit (Rs)=No limit TDS Rate=20%

Question 14

194EE-Payment of amount standing to the credit of a person under National Savings Scheme (NSS)

Answer 14

Threshold Limit (Rs)=2500 TDS Rate=10%

Question 15

194G-Payments, commission, etc., on the sale of lottery tickets

Answer 15

Threshold Limit (Rs)=15000 TDS Rate=5% (before 1st October 2024)
2% (from 1st October 2024)

Question 16

194H-Commission or brokerage

Answer 16

Threshold Limit (Rs)=15000 TDS Rate=5% (before 1st October 2024)
2% (from 1st October 2024)

Question 17

194-I-194-I(a) Rent onpalnt & machinery
194-I(b) Rent on land/building/furniture/fitting

Answer 17

Threshold Limit (Rs)=2,40,000 0 TDS Rate=2%
10%

Question 18

194-IA-Payment in consideration of transfer of certain immovable property other than agricultural land.

Answer 18

Threshold Limit (Rs)=50,00,000 TDS Rate=1%

Question 19

194-IB-Rent payment by an individual or HUF not covered u/s. 194-I

Answer 19

Threshold Limit (Rs)=50,000 per month TDS Rate=5% (before 1st October 2024)
2% (from 1st October 2024)

No pan then tds = 20% [max last month rent]

Question 20

194-IC-Payment under Joint Development Agreements (JDA) to Individual/HUF

Answer 20

Threshold Limit (Rs)=No limit TDS Rate=10%

Question 21

194J-Any sum paid by way of fee for professional services

Answer 21

Threshold Limit (Rs)=30000
TDS Rate=10%
Services covered in 44AA, sport activities

Question 22

194J-Any sum paid by way of remuneration/fee/commission to a director

Answer 22

Threshold Limit (Rs)=30000 TDS Rate=10%

Question 23

194J-Any sum paid for not carrying out any activity concerning any business;

Answer 23

Threshold Limit (Rs)=30000 TDS Rate=10%

Question 24

194J-Any sum paid for not sharing any know-how, patent, copyright, etc.

Answer 24

Threshold Limit (Rs)=30000 TDS Rate=10%

Question 25

194J-Any sum paid as a fee for technical services

Answer 25

Threshold Limit (Rs)=30000 TDS Rate=2% Managerial, technical, consultancy services

Question 26

194J-Any sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films

Answer 26

Threshold Limit (Rs)=30000 TDS Rate=2%

Question 27

194J-Any sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center.

Answer 27

Threshold Limit (Rs)=30000 TDS Rate=2%

Question 28

194K-Payment of any income for units of a mutual fund/UTI, for example, dividend

Answer 28

Threshold Limit (Rs)=5000 pan TDS Rate=10%

Question 29

194LA-Payment in respect of compensation on acquiring certain immovable property

Answer 29

Threshold Limit (Rs)=2,50,000 TDS Rate=10% NA on agriculture land both rural and urban

Question 30

194LB-Payment of interest on infrastructure debt fund to Non-Resident

Answer 30

TDS Rate=5% i.e. Rate in force 115A

Question 31

194LC-Payment of interest for the loan borrowed in foreign currency by an Indian company or business trust

Answer 31

TDS Rate=5% i.e. Rate in force 115A

Question 32

194M-Certain payments by Individual/HUF not liable to deduct TDS under Section 194C, 194H, and 194J

Answer 32

Threshold Limit (Rs)=50,00,000 TDS Rate=5% (before 1st October 2024) 2% (from 1st October 2024)

Question 33

194N-Cash withdrawal exceeding a certain amount

Answer 33

Threshold Limit (Rs)=Co-operative society: 3 Crore   Others: 1 crore TDS Rate=2% on excess of above limit NA on govt, bank, coop bank, post office, atm operator, notified by rbi

Question 34

194N-Cash withdrawal in case person not filing ITR for last three years and the original ITR filing due date expired

Answer 34

Threshold Limit (Rs)= 20 lakh to 1 crore   -1 crore TDS Rate=2%   5%  *If cash is withdrawn by a co-operative society the limit shall be Rs 3 Crore instead of Rs 1 Crore

Question 35

194O-Payment for the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform.

Answer 35

Threshold Limit (Rs)=5,00,000 TDS Rate=1% (before 1st October 2024) 0.1% (from 1st October 2024) If no PAN= 5% On gross amt without deducting commission

Question 36

194P-Payment of pension or interest to specified senior citizens of age 75 years or more

Answer 36

Threshold Limit (Rs)=Basic exemption limit of senior citizens or super senior citizens TDS Rate=Normal tax slab rates

Question 37

194Q-Payments for the purchase of goods

Answer 37

Threshold Limit (Rs)=50,00,000 TDS Rate=0.1% on excess amount No pan then 5%

Question 38

194R  -Perquisite or benefit to a business or profession

Answer 38

Threshold Limit (Rs)=20000 TDS Rate=10%

Question 39

194S -TDS on the transfer of virtual digital assets

Answer 39

Threshold Limit (Rs)= Specified Persons [mohanlal] - 50,000   Others- 10,000 TDS Rate=1%

Question 40

Section 194T Payments by firm to partners

Answer 40

Threshold - 20,000 pa [per partner] Rate 10% Interest and remuneration