Tax Deduction at Source(TDS) New Rates After Budget

In this budget there are some changes in tds rates which are very important to know. The main changes are made in threshold limit which will be applicable from 1-10-2010 as well as changes are also made in different sections like 194B, 194C, 194J etc. For example the rate of tds on rent payment is reduced to 2% which was 10% earlier. So there are complete sections and the changes in this table of new tax deduction at source table.

• TDS ON SALARY CALCULATOR
  As you know there is tax on salary amount with the income tax slabs.But to calculate the income tax on salary is always a difficult cause as it inculdes a lot of complexities like salary has very wide...

Sr. No.	Section	Nature of Payment	Rate	w.e.f..
1	192	Salaries	As per actual tax computed on the salaries with Education cess and Higher education cess.	1-Apr-09
2	194-A	Interest	10 percent	1-Apr-09
3	194-H	Commission or Brokerage	10 percent	1-Apr-09
				Existing
				(No change)
4	194-I	Rent	10 percent	1-Oct-09
		(i)�Land, Building,,Furniture
		(ii) Plant, Machinery &	2 percent	1-Oct-09
		Equipment
5	194-J	Professional or Technical	10 percent	1-Apr-09
		Services		Existing
				( no change )
6	194-C	Contractors / Sub-Contractors	1 percent	1-Oct-09
		Including , advertising
		(i)�To Individual/HUF	2 percent	1-Oct-09
		(ii)�To person other than
		Individual/HUF	NIL	1-Oct-09
		(iii)�To�Transporters
		(If PAN is furnished )