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|
Rates & Provisions
Name:- Vinod Vyas
Batch No.:- 126
Reg. No.:- CRO0239893
 K | 

|
means |ax educted at
ource. As per provisions of

Income |ax Act, 1961 some part of a specified income is
deducted from the person who earn that income before
making payment of such income. In other words, tax on
income deducted where the income is earned.
 2

2 

|
] |he person who deduct |
is called educter and the person from whom
|
is deducted is called deductee.
] educting |
from deductee and than deposit the same in Central Govt.
account is responsibility of deducter.
] |
deducted is required to be deposited within one week from the last
day of the month of deduction. If |
amount is not deposited by the due
date , then for each month a penalty of interest equal to 1% of the |

amount to be paid.
] Return of |
filed quarterly. If the quarterly |
return is not filed within
15 days from the last day of the quarter, then a penalty of Rs. 100 per day
subject to maximum limit equal to the |
amount is chargeable.
  
K  | 

] Payment of
alary and Wages
section 192.
] Payment of Interest on
ecurities
section 193.
] Payment of Interest other than

ecurities section 194A .
] Winnings from Lotteries or Cross
Word Puzzle section 194B.
] Winnings from Horse Race
section 194BB.
] Payment to Contractors /
ub-
contractors section 194C.
] Payment of Commission or
Brokerage section 194H.
] Payment of Rent of Plant &
Machinery section 194I.
] Payment of Rent of other than
Plant & Machinery section 194I.
] Payment of Professional Charges
section 194J.
  
   K 


Criteria of eduction |
is deductible if the estimated
total income of the employee is
taxable.
|
Rate Normal rate of income tax including
surcharge (if applicable) and
education cess.
 

 


Criteria of eduction |
is deductible if payment is in
excess of Rs. 5,000/- per annum.
|
Rate 1) If the recipient is a Company, Firm
or Cooperative
ociety. 22.66%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
3) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 10.30%.
  
 
|  

 !
Criteria of eduction |
is deductible if payment is in excess
of Rs. 5,000/- per annum.
|
Rate 1) If the recipient is a Company, Firm or
Cooperative
ociety. 22.66%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
3) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 10.30%.
 K
"


#
K
$$

 %
Criteria of eduction |
is deductible if payment is in excess
of Rs. 5,000/- per annum.
|
Rate 1) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 33.99%.
2) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 30.90%.
 K
&
2 

 %%
Criteria of eduction |
is deductible if payment is in excess
of Rs. 2,500/- per annum.
|
Rate 1) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
2) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 10.30%.
  
#
 
'
()#
 


 #
Criteria of eduction |
is deductible if payment is in
excess of Rs. 20,000/- per contract or
Rs. 50,000/- per annum.
|
Rate 1) If the recipient is a Company, Firm
or Cooperative
ociety. 2.266%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 2.266%
3) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 2.06%.
  
#



%
* 

 &
Criteria of eduction |
is deductible if payment is in
excess of Rs. 2,500/- per annum.
|
Rate 1) If the recipient is a Company, Firm
or Cooperative
ociety. 11.33%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
3) If the recipient is an Individual or
HUF and payment does not
exceeds Rs. 10 lacks per annum.
10.30%.
  
2
 
+  

 
Criteria of eduction |
is deductible if payment is in excess
of Rs. 1,20,000/- per annum.

|
Rate 1) If the recipient is a Company, Firm or

Cooperative
ociety. 11.33%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
3) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 10.30%.
 
2
 | 
 +  

 
Criteria of eduction |
is deductible if payment is in excess
of Rs. 1,20,000/- per annum.
|
Rate 1) If the recipient is a Company, Firm or
Cooperative
ociety. 22.66%
2) If the recipient is an Individual or HUF
and payment exceeds Rs. 10 lacks per
annum. 16.995%
3) If the recipient is an Individual or HUF
and payment does not exceeds Rs. 10
lacks per annum. 15.45%.
  


 
# 

 ,
Criteria of eduction |
is deductible if payment is in
excess of Rs. 20,000/- per annum.
|
Rate 1) If the recipient is a Company, Firm
or Cooperative
ociety. 11.33%
2) If the recipient is an Individual or
HUF and payment exceeds Rs. 10
lacks per annum. 11.33%
3) If the recipient is an Individual or
HUF and payment does not exceeds
Rs. 10 lacks per annum. 10.30%.