NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009

NEW TDS RATES FROM 01.10.2009 PROPOSED IN BUDGET 2009   PARTICULARS NEW TDS RATE % IF DEDUCTEE IS Section Nature of Payment Cut off Amount Rs. Individual & HUF Others 194A Interest from a Banking Company Rs. 10000/- p.a. 10% 20% 194A Interest other than From a Banking Company   Rs. 5000/- p.a.   10% 20% 194C Payment to Sub-Contractors And Payment for Advertising Contracts Rs. 20000/- per Contract or Rs. 50000/- p.a. 1% 2% 194C Other Contractors   Rs. 20000/- per Contract or Rs. 50000/- p.a. 1% 2% 194C Transport Contractors engaged In the business of playing, hiring or leasing goods carriages   NIL* 194H Commission or Brokerage Rs. 2500/- p.a 10% 194I Rent other than Plant, Machinery and Equipments   Rs. 120000/- p.a. 10%   194I Rent of Plant, Machinery and Equipments   Rs. 120000/- p.a. 10%     194J Professional and technical Services   Rs. 20000/- p.a. 10%   * The Nil rate will be applicable if the transporter Quotes his PAN. ** The rate of TDS will be 20% in all cases if PAN is not quoted by the deduce w.e.f. 1.04.2010 *** No Surcharge and Cess on Tax deducted on non-salary payments made toresident tax payers.