TaxTMI 
TaxTMI 
Tax to be deducted at source.
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.... (i) Any income by way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of insurance policies). Any person Rate: Rates in forcre. -- Threshold limit: Rs. 20,000. (ii) Any income by way of commission [not being insurance commission referred to in serial number 1(i)] or brokerage. Specified person Rate: 2% -- Threshold limit: Rs. 20,000. 2. Rent (i) Any income by way of rent. Person other than specified person. Rate: 2% -- Threshold limit: Rs. 50,000 for a month or part of a month. (ii) Any income by way of rent. Specified person. Rate: (a) 2%, for the use of any machinery or plant or equipment; and (b) 10%, for the use of any land, or building (including factory building), or land appurtenant to a building (including factory building), or furniture, or fittings. -- Threshold limit [for (a) and (b)]: Rs. 50,000 for a month or part of a month. Note 1.-In serial number 2(i), the tax shall be deducted on such income at the time of- (a) credit of r....
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....) Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. Nos. 3 and 4), payable to a unitholder of a Business Trust. Any Business Trust Rate: 10% -- Threshold limit: Nil. (iii) Any income, other than that proportion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224, payable to its unitholder. Any Investment fund specified in section 224. Rate: 10% -- Threshold limit: Nil. (iv) Any income, in respect of an investment in a securitisation trust specified in section 221 to an investor. Any securitisation trust specified in section 221. Rate: 10% -- Threshold limit: Nil 5. Interest income (i) Any income by way of Interest on securities. Any person. Rate: Rates in force. -- Threshold limit: Rs. 10,000 (ii) Any income by way of interest other than interest on securities. (a) A banking company; or (b) a co-operative society carrying on the business of banking; or (c) a post office for a deposit made under a scheme notified by the Central Government....
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....er than those required to deduct income-tax as per Sl. No. 6(i) and (iii) or Sl. No. 1(ii)]. Rate: 2% -- Threshold limit: Fifty lakh rupees. (iii) Any sum by way of-- (a) fees for professional services; or (b) fees for technical services; or (c) remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 392, to a director of a company; or (d) royalty; or (e) any sum referred to in section 26(2)(h). Specified person. Rate: (a) 2% of such sum in case of- (i) fees for technical services (not being a professional services); or (ii) royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films; or (iii) payee, engaged only in the business of operation of call centre; (b) 10% of such sum in cases other than (a). -- Threshold limit: (i) for (a), (b), (d) and (e) of Col. B: Rs. 50,000. (ii) for (c) of Col. B: Nil. Note.--In serial number 6 (i), if any sum is paid or credited for carrying out any work specified in section 402(47)(e), tax shall be deducted at source- ....
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.... benefit or perquisite, as the case may be, the person responsible for providing such benefit or perquisite shall ensure that tax has been deducted. Note 3.--In respect of serial number 8(v)-- (a) for deduction of tax, the provisions thereof shall take precedence over any other provisions of this Chapter; (b) any payment made by a purchaser of goods or recipient of services directly to an e-commerce participant for the sale of goods or provision of services or both, facilitated by an e-commerce operator, shall be deemed to be the amount credited or paid by the e-commerce operator to the e-commerce participant and this amount shall be included in the gross amount of such sale or services for the purposes of deduction of income-tax under this serial number; (c) e-commerce operator shall be deemed to be the person responsible for paying to e-commerce participant; (d) irrespective of anything contained in this Chapter, if- (i) tax has been deducted on a transaction under this serial number; or (ii) a transaction is not liable for tax deduction as provided in 393(4) (Table: Sl. No. 11), then tax shall not be deducted on such trans....
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....YMENTS TO NON-RESIDENT Sl.No. Nature of income or sum Payee Payer Rate A B C D E 1. Any income referred to in section 211. (a) A non-resident sportsman (including an athlete) or an entertainer, who is not a citizen of India; or (b) a non-resident sports association or institution. Any person. 20% 2. Any income by way of interest payable in respect of moneys borrowed in foreign currency from a source outside India,- (a) under a loan agreement or issue of long-term infrastructure bond on or after the 1st July, 2012 but before the 1st July, 2023; or (b) by way of issue of any long-term bond on or after the 1st October, 2014 but before the 1st July, 2023, which is approved by the Central Government in this behalf. Any non-resident (not being a company) or a foreign company. Any Indian company or a business trust. 5% 3 Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of rupee denominated bond before the 1st July, 2023. Any non-resident (not being a company) or a foreign company. Any Indian company or a busi....
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....y. Any person. As per Note 2. 11. Any income in respect of units referred to in section 208. Any offshore fund. Any person. 10% 12. Any income by way of long-term capital gains arising from the transfer of units referred to in section 208; Any offshore fund. Any person. 12.5% 13. Any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 209. Any non-resident. Any person. 10% 14. Any income by way of long-term capital gains arising from the transfer of bonds or Global Depository Receipts referred to in section 209. Any non-resident. Any person. 12.5% 15. Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). Any Foreign Institutional Investor. Any person. As per Note 2. 16. Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1). A specified fund referred to in Schedule VI [ Note 1(g)]. Any person. 10% 17. Any interest (not being interest referred to against serial numbers 2, 3, 4 and 5) or....
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.... Sl.No. Nature of income or sum Payer Rate Threshold limit A B C D 1. Any income by way of winnings (other than winnings from online games as referred to in serial number 2) from-- (a) any lottery; or (b) crossword puzzle; or (c) card game and other game of any sort; or (d) gambling or betting of any form or nature whatsoever. Any person. Rate: Rates in force. -- Threshold limit: Rs. 10000 in case of a single transaction. 2. Any income by way of winnings from online game. Any person. Rate: Rates in force. -- Threshold limit: As per Note 1. 3. Any income by way of winnings from any horse race. Any person, being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging for wagering or betting in any race course. Rate: Rates in force. -- Threshold limit: Rs. 10000 in case of a single transaction. 4. Any income, credited or paid to a person, who is or has been stocking, distribu....
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....t be made under the provisions referred to in column B of the Table below, in respect of the income or sum along with the conditions, specified in column C: Table FOR NO DEDUCTION AT SOURCE Sl.No. Provisions for tax deduction at source Condition for no deduction on income or sum A B C 1. Commission or Brokerage referred to in section 393(1) [Table: Sl. No. 1(ii)]. Commission or brokerage payable by Bharat Sanchar Nigam Limited or Mahanagar Telephone Nigam Limited to their public call office franchisees. 2. Rent referred to in section 393(1) [Table: Sl. No. 2(ii)]. Income by way of rent credited or paid to a business trust, being a real estate investment trust, in respect of any real estate asset, referred to in Schedule V (Table: Sl. No. 4), owned directly by such business trust. 3. Compensation on acquisition of certain immovable property referred to in section 393(1) [Table: Sl. No. 3(iii)]. Income by way of any award or agreement which has been exempted from levy of income-tax under section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (30 o....
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.... (ii) any financial corporation established by or under a Central Act or State Act or Provincial Act; or (iii) the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956); or (iv) the Unit Trust of India; or (v) any company or co-operative society carrying on the business of insurance; or (vi) such other institution, association or body or class of institutions, associations or bodies which the Central Government may, for reasons to be recorded in writing, notified in this behalf before the 1st April, 2020; (b) interest income credited or paid-- (i) by a co-operative society other than a co-operative bank, to a member thereof; or (ii) by a co-operative society to any other co-operative society; or (iii) in respect of deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a co-operative land development bank; or (iv) in respect of deposits (other than time deposits made on or after the 1st July, 1995) with a co-operative society, other than a co-operative society or bank referred to in ....
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....shes to the prescribed income-tax authority the particulars in such form and within such time as may be prescribed; (b) where such sum is credited or paid by individual or Hindu undivided family exclusively for personal purposes of such individual or any member of Hindu undivided family. 9. Fees for professional or technical services referred to in section 393(1) [Table: Sl. No. 6(iii)]. Where such sum is credited or paid by individual or Hindu undivided family exclusively for personal purposes of such individual or any member of Hindu undivided family. 10. Dividend referred to in section 393(1) (Table: Sl. No. 7). Dividend income credited or paid to- (a) the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956), in respect of any shares owned by it or in which it has full beneficial interest; (b) the General Insurance Corporation of India or to any of the four companies, formed by virtue of the schemes made under section 16(1) of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), in respect of any shares owned by the Corporation or such company or in which....
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.... in respect of units of investment fund referred to in section 393(2) (Table: Sl. No. 8). Income that is not chargeable to tax under the provisions of this Act. 15. Income in respect of units of non-residents referred to in section 393(2) (Table: Sl. No. 10). Income payable in respect of units of the Unit Trust of India to a non-resident Indian or a non-resident Hindu undivided family, subject to prescribed conditions. 16. Income of Foreign Institutional Investors from securities referred to in section 393(2) (Table: Sl. No. 15). Income, by way of capital gains arising from the transfer of securities referred to in section 210, if payable to a Foreign Institutional Investor. 17. Income of Specified Fund from securities referred to in section 393(2) (Table: Sl. No. 16). Income is exempt as per Schedule VI (Table: Sl. Nos. 1 to 4). 18. Payment of certain amounts in cash referred to in section 393(3) (Table: Sl. No. 5). Payment made to- (a) the Government; (b) any banking company or co-operative society engaged in carrying on the business of banking or a post office; (c) any business corres....
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.... (e) interest referred to in section 393(1) [Table: Sl. No. 5(i), (ii) and (iii)]; (f) payment in respect of life insurance policy referred to in section 393(1) [Table: Sl. No. 8(i)]; (g) dividend referred to in section 393(1) (Table: Sl. No. 7). 2. Any person not being a company or a firm or an individual covered in Sl. No. (1). Sl. No. (1).C(a) to (f). ^7[(b) The declaration referred in clause (a) may also be furnished electronically to a depository, as defined in section (2)(e) of the Depositories Act, 1996 (22 of 1996), where-- (i) the income is from units, interest on securities or dividends, as the case may be, as referred to in section 393(1) [Table: 4(i), 5(i) or 7]; (ii) such units or securities are held with such depository; and (iii) such securities are listed on a recognised stock exchange, in accordance with such procedure and manner, as may be prescribed.] Note.--The provisions of this sub-section shall not apply in case of a person referred to in column B of the Table, other than an individual being a resident who is of the age of sixty years or more at any time during the tax year, if the aggregate....