TDS-RATES CHART FY 2017-18 AY 2018-19 TDS DEPOSIT-RETURN-DUE DATES INTEREST PENALTY

TDS means 'Tax Deducted at Source'. TDS is one of the modes of collection of taxes, by which a certain percentage of amount is ...

TDS means 'Tax Deducted at Source'. TDS is one of the modes of collection of taxes, by which a certain percentage of amount is deducted by a person at the time of making / crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government Account. A significant part of Income tax collection comes through TDS ,so Tax machinery is monitoring the TDS collection minutely.

In view of above ,Deduction of Tax at correct rate is very important for deductor and minor mistake in deduction leads to penalty in shape of Interest on late deposit and disallowance of Expenses. We have Compiled Tax deduction rates chart (TDS rate chart) for Financial year 2017-18 Assessment year 2018-19 which may be useful for all the readers. You may also download full post along with other details in PDF from the link given at the end of the post.

[TDS-RATES CHART FY 18-19 AY 2019-20]

Check TDS on Salary Rates and computation of Salary Income Fy 2017-18

Kindly give suggestion/queries/errors/amendments in comment section or raniraj1950 at gmail.com , suitable  prizes will be given to  persons who will point out error(s) or sent good suggestions about this post.
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• 1. TDS RATE CHART FY 2017-18 AY 2018-19 (POPULAR SECTIONS)

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DOWNLOAD TDS RATES CHART FY 2017-18 & OTHER PROVISIONS IN PDF FORMAT VERSION 01 UPDATED 10.04.2017

TDS RATE CHART FY 2017-18 AY 2018-19
Section	Nature of Payment	Cut off (Rs.)	Indi/HUF	Others
192	Salaries	-	Avg rates	NA
192A	Premature withdrawal from EPF	50000	10	NA
193	Interest on securities	10000	10
194	Dividends	2500	10
194A	Interest Banks/Other	10000/5000	10
194B	Winning from Lotteries	10000	30
194BB	Winnings from Horse Race	10000	30
194C	Contractor-Single/Yearly	30K/1LAKh	1	2
194C	Transporter(44AE) Declaration with PAN	As above	-	-
194D	Insurance Comm(15G-15H allowed)	15000	5%
194DA	Life insurance policy	100000	1%
194EE	NSS	2500	10	NA
194G	Commission /Lottery	15000	5
194H	Commission / Brokerage	15000	5
194I	Rent Land  and  Building  F&F	180000	10
194IB	Rent (by Indvl/HUF)(01.06.17)	50000/Month	5%	NA
194I	Rent-Plant/Machinery/equipment	180000	2
194IA	Immovable property	50 Lakh	1
194J	Professional/technical Fees	30000	10
194J	Payment to Call Center(01.06.17)	30000	2
194LA	Immovable Property(compenation)	2.5 LAKH	10
194LA	Immovable Property-TDS exempted under RFCTLARR Act'(01.04.17)

[DOWNLOAD TDS RATES CHART FY 2017-18 & OTHER PROVISIONS##download##]
[TDS-RATES CHART FY 18-19 AY 2019-20][1.2MB]

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• 2. TDS RATE CHART FY2017-18 AY 2018-19(Section wise details)

Section 192
Nature of Payment	Salary
Deductor	Any person (employer)
Deductee	Any person (employee) individual
TDS rate	As per Slab rate applicable to individual
Threshold Limit	If Tax payable is nil on Salary Income
Time of deduction	At the time of Payment
Other points	Negative Income of House property may be Considered  for TDS calculation
192A
Nature of Payment	Premature withdrawal from EPF
Deductor	EPFO
Deductee	Resident
TDS rate	10%
Threshold Limit	50000 wef 01.06.2016)
Time of deduction	At the time of Payment
Other points	TDS is applicable only if withdrawn before 5 year of contribution
Section 193
Nature of Payment	Interest on securities
Deductor	any person
Deductee	Resident
TDS rate	10%
Threshold Limit	Govt securities -10000 Debenture-5000
Time of deduction	credit or payment whichever is earlier
Other points
Section 194
Nature of Payment	Deemed dividend
Deductor	Indian company /company making payment in India
Deductee	Resident
TDS rate	10%
Threshold Limit	2500 to Individuals paid a/c payee cheque
Time of deduction	Distribution or payment which ever is earlier
Other points	No tds on exempted dividend u/s 10(34)
Section 194A
Nature of Payment	Interest other than securities
Deductor	(1)Any person other than Individual /HUF (2) Individual Huf having sales turnover /receipts exceeding the limit provided under section 44AB in immediately preceding year
Deductee	Resident
TDS rate	10%
Threshold Limit	10000 from banks 5000 from others
Time of deduction	credit or payment which ever is earlier
Other points	Adjustment in deduction increase/decrease can be made same as under section 192(salary)
Section 194B
Nature of Payment	winning from lottery/crossword puzzle etc
Deductor	any person
Deductee	any person
TDS rate	30%
Threshold Limit	10000
Time of deduction	At the time of Payment
Other points	Tax is deductible even for prize in Kind
Section 194BB
Nature of Payment	Winning of Horse race
Deductor	any person
Deductee	any person
TDS rate	30%
Threshold Limit	10000 form 01.06.2016
Time of deduction	At the time of Payment
Other points
Section 194C
Nature of Payment	TDS from payment to contractor sub contractor
Deductor	As per details
Deductee	Resident
TDS rate	if payee is individual/huf:1% other :2%
Threshold Limit	Single :30000 Total f.Y 100000 wef 01.06.2016
Time of deduction	credit or payment which ever is earlier
Other points	Material value excluded if shown in bill separately
194D
Nature of Payment	Insurance Commission
Deductor	Insurance company
Deductee	Resident
TDS rate	5% wef 01.06.2016
Threshold Limit	15000 from 01.06.2016
Time of deduction	credit or payment which ever is earlier
Other points	Form 15G-15H allowed wef 01.06.2017
Section 194DA
Nature of Payment	Payment of Life insurance not exempted u/s 10(10D)
Deductor	any person
Deductee	Resident
TDS rate	1% wef 01.06.2016
Threshold Limit	100000
Time of deduction	At the time of Payment
Other points	No deduction on payment on death of deductee
Section 194EE
Nature of Payment	payment of National saving scheme(deduction claimed 80CCA)
Deductor	any person
Deductee	Individual or HUF
TDS rate	10% wef 01.06.2016
Threshold Limit	Rs 2500
Time of deduction	At the time of Payment
Other points	No deduction on payment to heirs
194F
Nature of Payment	Units of Mutual Funds/UTI(deduction claimed 80CCB)
Deductor	any person
Deductee	Individual or HUF
TDS rate	20%
Threshold Limit	2500
Time of deduction	At the time of Payment
Other points	no deduction on payment to heirs
Section 194H
Nature of Payment	Commission / Brokerage
Deductor	any person
Deductee	Resident
TDS rate	5 % wef 01.06.2016
Threshold Limit	15000 wef 01.06.2016
Time of deduction	credit or payment which ever is earlier
Other points
Section 194G
Nature of Payment	Commission on Lottery
Deductor	any person
Deductee	Resident
TDS rate	5% wef 01.06.2016
Threshold Limit	15000 wef 01.06.2016
Time of deduction	credit or payment which ever is earlier
Other points
Section 194I
Nature of Payment	Payment of Rent
Deductor	Any person other than HUF/Individual
	HUF-Individual :sales /gross receipt exceeds one crore/50 lakhs
Deductee	Resident
TDS rate	Plant and Machinery/equipment :2% Land /building/furniture -10%
Threshold Limit	180000
Time of deduction	credit or payment which ever is earlier
Other points	TDS is deductible even if deductor is not owner
Section 194IB(wef 01.06.2017)
Nature of Payment	Payment of Rent
Deductor	Individual or HUF(not covered under audit 44AB)
	HUF-Individual :sales /gross receipt less than one crore/50 lakhs
Deductee	Resident
TDS rate	Rent 5 %
Threshold Limit	50000 per month
Time of deduction	Only Once in year -Last month of agreement/Previous year
TDS rate without PAN	As per 206AA but maximum up to last month Rent
Other points	TDS to be deposited under PAN no TAN required
READ MORE	[TDS ON RENT BY INDIL/HUF RENT -50K-PM]
Section 194 IA(effective from 01.06.2013)
Nature of Payment	Payment of immovable property
Deductor	Any person other than HUF/Individual
	HUF-Individual :sales /gross receipt exceeds one crore/50 lakhs
Deductor	any person
Deductee	Resident
TDS rate	1%
Threshold Limit	sale consideration up to 50 lakh
Time of deduction	At the time of Payment
Other points	Agriculture land not covered/TAN is not required to be obtained
Section 194J
Nature of Payment	Fees for professional services /Technical services/ royalty  /remuneration or fees or commission payable to director (not covered under 192)
Deductor	Any person other than HUF/Individual
	HUF-Individual :sales /gross receipt exceeds one crore/50 lakhs
Deductee	Resident
TDS rate	10% (2% on Call centers wef 01.06.2017)
Threshold Limit	30000(no Limit for Payment to director)
Time of deduction	credit or payment whichever is earlier
Other points	No tds on profession services for personal purpose
Payment of compensation on acquisition of certain immovable property(194LA)
Nature of Payment	Payment of compulsory compensation on acquisition of certain immovable property(other than agriculture land)
Deductor	Any person
Deductee	Resident
TDS rate	10%
Threshold Limit	sale consideration up to Rs 2.50 lakh
Time of deduction	At the time of Payment(cash/cheque/draft or any other mode)
Other points	Any payment made under RFCTLARR Act is exempted from TDS

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• 3.CHANGES IN TDS-TCS RATES IN FY 2017-18 AY 2018-19

CHANGES IN TDS BUDGET-2017
Section	Description	Change	Wef
194-IB	TDS ON RENT	TDS By Individual/HUF @ 5 % on Rent more than Rs 50000 Per month	01.06.17
194J	PROF. SERVICES	Rate on Call center Reduced to 2 %	01.06.17
194D	INSURANCE COMM.	Form 15G-15H allowed	01.06.17
194LA	COMPENSATION IMMOVABLE PROP.	No TDS on Compensation under Right to Fair Compensation and Transparency in Land Acquisition	01.04.17
194LC/D	FOREIGN LOANS	5% TDS on Int.Ext.comm borrowings	FY16-17
40a(ia)	DIS-ALLOWANCE  ON NON-DED OF TDS	Also applicable on Income from Other Source	AY 17-18
244A	INTEREST ON REFUND	Payable from Apply Date to Refund Date @ half % per month	01.04.17

Read More [CHANGES IN TDS RATES BUDGET-2017]

Changes in TCS in Budget-2017
Section	Description	Change	Wef
206CC	TCS All Clauses	TCS without PAN-Twice the Rate or 5 % whichever higher	01.04.17
206CC	TCS All Clauses	Mandatory quoting of PAN of the collectee by both the collector and the collectee in all correspondence	01.04.17
206C(1F)	TCS on Motar Vehicle more than 10 Lakh	Not aaplicable on Cent/ State Govt, Embassy-High Comm etc, Local Auth, PSU Transport Company.	01.04.17
206C(1D)	TCS on Jewellery and cash transaction more than 2 lakh	Deleted as 100 % penalty applicable on Cash Transaction exceeding 2 Lakh	01.04.17

Read [CHANGES IN TCS RATES IN FINANCE ACT-2017]

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• 4. Notes to TDS RATE CHART FY 2017-18 AY 2018-19:

1. No TDS on service Tax :As per circular 01/2014 dated 13.01.2014 TDS is not applicable on service tax part if service tax is shown separately. 
2. TDS at higher rate ie., 20% has to be deducted if the deductee does not provide PAN to the deductor.(read detail u/s 206AA) 
3. TDS on Good Transport wef 01.06.2015 : TDS shall be applicable on payment to transporter wef 01.06.2015 .However tds exemption will be available only to those transporters who own ten or less goods carriages at any time during the previous year. Such a transporter would also need to furnish a declaration to that effect to the payer along with the PAN.
4. Surcharge on TDS on salary is applicable if taxable salary is more than 50 lakh @ 10% and if salary is more than one crore @ 15 % 
5. Surcharge on tax other than salary is not deductible/collectible at source in case of resident individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary. 
6. Surcharge on TDS is applicable on payment made to non resident (See chart below for details )
7. TDS is deductible on full amount if threshold limit is crossed during the year including the amount paid earlier during the year along with interest ,if applicable.
8. No Cess on payment made to resident: Education Cess is not deductible/collectible at source in case of resident Individual/HUF/Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary.Education Cess @ 2% plus secondary & Higher Education Cess @ 1% is deductible at source in case of non-residents and foreign company. 
9. Section 206AA in the Act makes furnishing of PAN by the employee compulsory in case of receipt of any sum or income or amount, on which tax is deductible. If employee (deductee) fails to furnish his/her PAN to the deductor , the deductor has been made responsible to make TDS at higher of the following rates: 
• i) at the rate specified in the relevant provision of this Act; or 
• ii) at the rate or rates in force; or 
• iii) at the rate of twenty per cent. The deductor has to determine the tax amount in all the three conditions and apply the higher rate of TDS. However, where the income of the employee computed for TDS u/s 192 is below taxable limit, no tax will be deducted. But where the income of the employee computed for TDS u/s 192 is above taxable limit, the deductor will calculate the average rate of income-tax based on rates in force as provided in sec 192. If the tax so calculated is below 20%, deduction of tax will be made at the rate of 20% and in case the average rate exceeds 20%, tax is to deducted at the average rate. Education cess @ 2% and Secondary and Higher Education Cess @ 1% is not to be deducted, in case the tax is deducted at 20% u/s 206AA of the Act. 
• In Case of TCS without pan rate shall be 5 % or double of the prescribed rate ,whichever is higher

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• TDS by Individual and HUF (Non Audit) Cases 
• TDS by Individual and HUF (Non Audit) cases not deductible An Individual or a Hindu Undivided Family whose total sales, gross receipts or turnover from business or profession carried on by him does not exceeds the monetary limits (Rs.100,00,000 in case of business & Rs.50,00,000 in case of profession) under Clause (a) or (b) of Sec.44AB during the immediately preceding financial year shall not be liable to deduct tax u/s.194A,194C, 194H, 194I & 194J.So no tax is deductible by HUF/Individual in first year of operations of business even sales/receipt is more than 100/50 Lakh.
• However [New section 194IB has been added wef 01.06.2017]under which tds on rent is to be deducted by HUF/Individual even in non audit cases if rent paid is per month Rs 50000/- or more.(read more)

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• 5.Surcharge /Cess applicable on TDS/TCS

1.Surcharge on payment made to resident other than salary is not deductible
2.In case of nonresident shall be increased by a surcharge in the case of—
(i) every non-resident being an individual or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act,—

• (a) at the rate of ten per cent. of such tax, where the income or the aggregate of income paid or likely to be paid and subject to deduction exceeds fifty lakh rupees but does not exceed one crore rupees;
• b) at the rate of fifteen per cent. of such tax, where the income or the aggregate of income paid or likely to be paid and subject to deduction exceeds one crore rupees;

(ii) every non-resident being a co-operative society or firm or local authority at the rate of twelve per cent. Where the income or the aggregate of income paid or likely to be paid and subject to deduction exceeds one crore rupees;
(iii) every company other than a domestic company at the rate of two per cent. where the income or the aggregate of income paid or likely to be paid and subject to deduction exceeds one crore rupees but does not exceed ten crore rupees;
(iv)every company other than a domestic company at the rate of five per cent. where the income or the aggregate of income paid or likely to be paid and subject to deduction exceeds ten crore rupees.

Surcharge /Cess applicable on TDS/TCS
Particulars		Payment	Surcharge	Cess
Resident	Individual	Salary (up to 50 lakh)	No	Yes(3%)
	Individual	Salary (50 lakh - 1 crore)	Yes (10%)	Yes(3%)
	Individual	Salary (> I crore)	Yes (15%)	Yes (3%)
	Non- corporate	Any	No	No
	Corporate	Any	No	No
Non- Resident	Individual or HUF or AOP or BOI or artificial juridical person	Any  up to 50 lakh	No	Yes (3%)
		Any (50 lakh-1 crore)	Yes(10%)	Yes (3%)
		Any Payments> 1 Crore	Yes(15%)	Yes (3%)
	cooperative society-Firm	Any payment > 1 Crore	Yes (12%)	Yes (3%)
	Non Domestic Company	Any Payment             (> 1 Cr to 10 crore)	Yes (2%)	Yes (3%)
		Any payment > 10 Crore	Yes  (5%)	Yes (3%)

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• 6. TCS (Tax Collection at Source Rates Fy 2017-18 AY 2018-19)

TCS is collectible on Scrap Tendu Leaves, Timber obtained under a forest lease or other mode, Any other forest produce not being a timber or tendu leave ,Alcoholic Liquor for human consumption , Parking Lot, toll plaza, mining and quarrying Minerals, being coal or lignite or iron ore (applicable from July 1,2012) Sale of motor vehicle of the value exceeding Rs. 10 Lacs;(wef 01.06.2016) 

TCS rate chart is given below for your ready reference.

TCS RATES FOR FY 2017-18 AY 2018-19
Nature of Payment	TCS Rate %
Scrap	1.00
Tendu Leaves	5.00
Timber  obtained  under  a forest lease or other mode	2.50
Any other forest produce not being a timber or tendu leave	2.50
Alcoholic Liquor for human consumption	1.00
Parking   Lot,   toll   plaza, mining and quarrying	2.00
Minerals, being coal or lignite or iron ore (applicable   from   July   1,2012)	1.00
Sale of motor vehicle of the value exceeding Rs. 10 Lacs;(wef 01.06.2016)	1.00
Motor vehicle clause Not applicable on Central Government, a State Government, an embassy, a High Commission, legation, commission, consulate and the trade representation of a foreign State; local authority ; a public sector company which is engaged in the business of carrying passengers (wef 01.04.2017)
Bullion if consideration (excluding  any coin  / article weighting 10 grams or   less)  exceeds Rs. 2  Lakhs or jewellery if consideration exceeds Rs. 5 Lakhs (and any amount is received in cash)	Not applicable as cash transaction more than 2 Lakh not allowed wef 01.04.2017
Sale in cash of any goods (other than bullion and jewellery) or providing of any services (other than payments on which TDS is made) exceeding Rs. 2 Lacs
TCS Rate without PAN
Double of TCS rate as above or 5% ,which ever is higher

Read [CHANGES IN TCS RATES IN FINANCE ACT-2017]

TCS RATES FY 2017-18 AY 2018-19 (details)

Category-1

Every person, being a seller, shall at the time of debiting the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer, whichever is earlier, collect from the buyer of any goods of the nature specified in column (1) of the Table below, a sum equal to the percentage, specified in the corresponding entry in column (2) of the said Table, of such amount as income-tax:

Nature of Goods	RATE (in %)
Alcoholic liquor for human consumption	1
Tendu leaves	5
Timber obtained under a forest lease	2.5
Timber obtained by any mode other than a forest lease	2.5
Any other forest produce (not being timber/tendu leaves)	2.5
Scrap	1
Minerals, being coal or lignite or iron ore	1

Category-2

Every person, who grants a lease or a licence or enters into a contract or otherwise transfers any right or interest either in whole or in part in any parking lot or toll plaza or mine or quarry, to another person, other than a public sector company (hereafter in this section referred to as "licensee or lessee" ) for the use of such parking lot or toll plaza or mine or quarry for the purpose of business shall, at the time of debiting the amount payable by the licensee or lessee to the account of the licensee or lessee or at the time of receipt of such amount from the licensee or lessee, whichever is earlier, collect from the licensee or lessee of any such licence, contract or lease of the nature specified in column (2) of the Table below, a sum equal to the percentage, specified in the corresponding entry in column (3) of the said Table, of such amount as income-tax:

Nature of contract or licence or lease, etc.	Rate (in %)
Parking lot	2
Toll plaza	2
Mining and Quarrying	2

Category-3

Every person, being a seller, who receives any amount in cash as consideration for sale of bullion or jewellery or any other goods (other than bullion or jewellery) or providing any service, shall at the time of receipt of such amount in cash, collect from the buyer, a sum equal to 1 % of sale consideration as income-tax, if such consideration,—

• (i) for bullion, exceeds Rs. 2,00,000; or
• (ii) for jewellery, exceeds Rs. 5,00,000; or
• (iii) for any goods, other than those referred to above, or any service, exceeds Rs. 2,00,000.

The above category has been abolished wef 01.04.2017 as cash receipt of Rs 2 lakh or more attracts penalty of 100 % so no need to collect TCS on above category.

Category-4

Every person, being a seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding Rs. 10,00,000, shall, at the time of receipt of such amount, collect from the buyer, a sum equal to 1% of the sale consideration as income-tax.

In order to reduce compliance burden in certain cases, it is proposed to amend section 206C, to exempt the following class of buyers such as the Central Government, a State Government, an embassy, a High Commission, legation, commission, consulate and the trade representation of a foreign State; local authority as defined in explanation to clause (20) of Section 10; a public sector company which is engaged in the business of carrying passengers, from the applicability of the provision of subsection (1F) of section 206C of the Act. This amendment will take effect from 1st April, 2017.

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• 7. Due date to Deposit TDS and TCS & Mode FY 2017-18 AY 2018-19

To Know the full concept of Due date to deposit TDS ,we must have to read it in two Parts  

1. When Tax is to be deducted/collected ?
2. When tax deducted at source(TDS) is to be deposited (TDS due date of deposit)?

When tax is to be deducted ?

1. At the time of credit or payment, whichever is earlier
• 193- Interest on securities
• 194A- Interest Other than “Interest on securities”
• 194C- Payment to contractors / sub contractors
• 194D – Insurance commission
• 194H – Commission or Brokerage
• 194G- Commission on sale of lottery tickets
• 194I- Rent
• 194J- Professional or technical fees
2. Before making payment or distribution
• 194- Dividend
3. At the time of payment
• 192- Salaries
• 194B- Winning from lotteries / crossword puzzles
• 194BB Winnings from horse races
• 194EE – Payment from National Saving Scheme
• 194F Payment for repurchase of units by UTI / mutual funds
• 194 -IA : payment of transfer of immovable property >50 Lakh
• 194LA: Payment of compensation on acquisition of certain immovable property

When Tax is to be collected 

1. At the time of Debit of Account or Receipt ,whichever is earlier
• Scrap 
• Tendu Leaves 
• Timber obtained under a forest lease or other mode 
• Any other forest produce not being a timber or tendu leave 
• Alcoholic Liquor for human consumption 
• Parking Lot, toll plaza, mining and quarrying Minerals, being coal or lignite or iron ore (applicable from July 1,2012) 
2. At the time of receipt/collection  
• Sale of motor vehicle > 10 lakh

When date of deduction/Collection is decided then according to point of deduction/collection then due date to deposit is to be decided as under.

Due Date to Deposit TDS /TCS
Tax to be deducted  by Govt  Office
1	Tax deposited without challan	Same day
2	Tax deposited with challan	7th of next month
Tax deducted  by Non-govt deductors
1	Tax deductible in March	30th  April  of  next F.Y
2	other months & tax on perquisites opted to be deposited by employer	7th of next month
TDS on transfer of Immovable property 194IA
1	Tax deductible in a particular Month (up to 31.05.2016)	7th of next month
2	Tax deductible in a particular Month  ( wef 01.06.2016)	30th of next month
Tax Collected at Source (TCS)
1	Tax collectable  in a particular Month	7th of next month

“Time and mode of payment to Government account of tax deducted at source or tax paid under sub­ section (1A) of section 192.

Rule :30.

(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the Government shall be paid to the credit of the Central Government ‐

• (a) on the same day where the tax is paid without production of an income‐tax challan; and
• (b) on or before seven days from the end of the month in which the deduction is made or income‐tax is due under sub‐section (1A) of section 192, where tax is paid accompanied by an income‐tax challan.

Tax to be deducted/collected  by Govt  Office
1	Tax deposited without challan	Same day
2	Tax deposited with challan	7th of next month
3	Tax on perquisites opt to be deposited by the employer	7th of next month

(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other than an office of the Government shall be paid to the credit of the Central Government ‐

• (a) on or before 30th day of April where the income or amount is credited or paid in the month of March; and
• (b) in any other case, on or before seven days from the end of the month in which‐ the deduction is made; or income‐tax is due under sub‐section (1A) of section 192.

Tax deducted/collected by other
1	tax deductible in March	30th April of next year  In case of TCS 7th April
2	other months & tax on perquisites opted to be deposited by employer	7th of next month

(2A) Notwithstanding anything contained in sub‐rule (2) ,any sum deducted under section 194-IA shall be paid to the credit of the Central Government within a period of seven days 30 days (wef 01.06.2016) from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QB

(3) Notwithstanding anything contained in sub‐rule (2), in special cases, the Assessing Officer may, with the prior approval of the Joint Commissioner, permit quarterly payment of the tax deducted under section 192 or section 194A or section 194D or section 194H for the quarters of the financial year specified to in column (2) of the Table below by the date referred to in column (3) of the said Table:‐

SrNo	Quarter ended On	Date of payment
1	30th June	7th July
2	30the September	7th October
3	31st December	7th January
4	31st March	30th April

Challan to deposit TDS and TCS & mode of deposit

1. For all sections under TDS and TCS one challan is to be deposited ie ITNS-281 and to deposit TDS/TCS -TAN(tax deduction & collection account number is to be obtained and used.
2. Deductor can adjust excess tds deposited in one section /assessment year with another section /assessment year so no need to deposit section wise challan.
3. However for TDS collected under section 194IA (TDS on immovable property over 50 Lakh) tax is to be deposited on challan cum return 26QB.Further to deposit this challan TAN number is not required though deductor will FILL his PAN 
4. TAX must be deposited through online mode only or through designated bank branches.

Refund of Excess TDS deposited :

As pointed out above in point number 2 ,you may adjust excess TDS in other section /assessment year/quarter.However if you want refund then you may apply on form 26B online for excess TDS.

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• 8.Person required to file E TDS Return & Duties of Deductor

NOTIFICATION No. 238/2007, dated 30-8-2007.Now following person are liable to file etds/etcs return. 

1. All Government department/office or
2. All companies. or
3. All person required to get his accounts audited under section 44AB in the immediately preceding financial year; or
4. The number of deductees’ records in a quarterly statement for any quarter of the immediately preceding financial year is equal to or more than 20.

DUTIES OF TAX DEDUCTOR/COLLECTOR

1. To apply for Tax Deduction Account Number (TAN) in form 49B, in duplicate at the designated TIN facilitation centers of NSDL(please see www.incometaxindia.gov.in), within one month from the end of the month in which tax was deducted.However for tax deduction u/s 194IA (tds on transfer of immovable property) the deductor may use PAN instead of TAN
2. If a deductor has many offices then deductor may take one TAN for all branches or take separate TAN for each TAN. If separate TAN is taken then deductor can check TDS compliance report of all TAN at TDSCPC website 
3. To quote TAN (10 digit reformatted TAN) in all TDS/TCS challans, certificates, statements and other correspondence.
4. To deduct/collect tax at the prescribed rates at the time of every credit or payment, whichever is earlier, in respect of all liable transactions.
5. To remit the tax deducted/collected within the prescribed due dates by using challan no. ITNS 281 by quoting the TAN and relevant section of the Income-tax Act.
6. To issue TDS/TCS certificate, complete in all respects, within the prescribed time in Form No.16(TDS on salaries), 16A(other TDS) 27D( TCS).
7. To file TDS/TCS quarterly statements within the due date and revise the same ,wherever necessary.
8. To mention PAN of all deductees in the TDS/TCS quarterly statements.

TRACES online portal for deductors and deductees :

TRACES is a web-based application of the Income Tax Department that provides an interface to all stakeholders associated with TDS administration. It enables viewing of challan status, downloading of Conso File, Justification Report and Form 16 / 16A as well as viewing of annual tax credit statements (Form 26AS). The deductor have to register at TRACES website to avail facility available at the website 

Facility available at Traces for deductors 

1. Download Conso File / Justification Report 
2. Download Form 16 / 16A / 16B / 27D.
3. Online correction of TDS returns 
4. Refund of Excess TDS

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• 9 DUE DATE TDS-TCS RETURN AND TDS-TCS CERTIFICATES 

Due date TDS-TCS return 24Q, 26Q ,27Q,27EQ and Form 16 , Form 16A for Financial year 2017-18 AY 2018-19 for Govt as well as non Govt deductor (notification 30/2012 dt 29/04/2016)

Quarterly return Form  

Deductor is required to file TDS/TCS return quarterly , however nil return is not mandatory.This  returns may be filed at any TIN-FC by paying a small fee. However you may upload original return directly at efiling site free.
1. 24Q   : For TDS deducted from Salary Income 
2. 26Q   : For  TDS deducted from all other section except salary & 194IA from resident
3. 27Q   :  For TDS deducted from Non resident except salary
4. 27EQ : For Tax collected at source
5. 26QB : For section 194IA separate return is not required ,challan cum return is to be filled on form 26QB (Tax to be deposited within 30 days(wef 01.06.2016)(earlier it was 7 days) from the end of the month in which tax is to be deducted )

Due date TDS Return 24Q, 26Q ,27Q TCS Return 27EQ        Form 16  Form 16A for Financial year 2017-18 for Govt as well as non Govt deductor (notification 30/2012 dt 29/04/2016)
Sl. No.	QTR ENDING	RETURN		TDS-TCS Certificate
		TDS	TCS	FORM 16A	FORM 16	FORM 27D
1	30th June	31st July	15th July	15th Aug	31st May	30th July
2	30th Sep	31st Oct	15th Oct	15th Nov		30th Oct
3	31st Dec	31st Jan	15th Jan	15th Feb		30th Jan
4	31st Mar	31st May	15th May	15th June		30th May

Due date to issue form 16 for financial year 2016-17 and onwards has been extended to 15 June from 31st May as shown above vide notification dated 02.06.2017

Nil TDS return is not mandatory 

As per income tax rules/act Nil tds return is not mandatory , however to facilitate the deductors and to update data Govt has provided a facility on Traces website for declaring NIL tds return.

Correction statement of  E TDS return 

You may file correction return any number of times ,No time limit has been defined yet.  This return can be filed with TIN-FC .To file the revised tds return you have to download consolidated FVU file from TDSCPS website The correction return filing facility has not been provided at Income tax India efiling site but we expect that soon it will be made available.However you may correct challan details/tag replace challan/allocation of interest and fees online/move deductee rows from unmatched challan without digital signature at www.tdscpc.gov.in and pan details with digital signature.If short payment of TDS is not settled by deductor then he can not download form 16A/16 of that quarter/year.

Justification report : After filing of the return ,Department shall process the return and issue intimation of return processed without default or with defaults. The defaults are mainly on account of deduction of tax at less rate , late filing of return ,interest due to late deposit of Tax ,mismatching overbooking of challan , incorrect pan details etc. In intimation only summary of default is sent to check the details deductor is supposed to download Justification report from TDSCPC website. 

TDS Certificate 

1. Form 16 : For tds deducted from salary
2. Form 16A : For other Tax deductions except salary & 194IA
3. Form 16B : TDS from section 194IA (to be issued within  45 days wef 01.06.2016)(earlier it was 22 days) from the end of the month in which tax is to be deducted )
4. All above form must be downloaded from TDSCPC (TRACES) website .However in case of Form 16 only PART-A is to be downloaded from  TRACES website.Earlier this was mandatory for only companies ,Banks and co-operative societies engaged   in Banking services with effect from 01.04.2011 through circular number 3/2011.
5. Form 16A downloaded from TDSCPC can be signed manually or can be authenticated through digital signature only.

Read more from links given below

1. Procedure How  to register at TRACES (www.tdscpc.gov.in) and 
2. How to download Form 16A form TRACES (www.tdscpc.gov.in)
3. HOW TO DOWNLOAD FORM 16 FROM TDSCPC WEBSITE
4. How to download Form 16B from TDSCPC website 

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• 10.INTEREST-PENALTY-PROSECUTION-CONSEQUENCES
• Interest on Late deposit of TDS/TCS & Penalty & Prosecution & other consequences on Non deposit of TDS/TCS

As per income-tax , interest on late deposit of TDS is payable under the following two circumstances

1. Tax is not deducted , when it was deductible
2. Tax once deducted, is not paid on or before due date

• Interest on late Deposit of TDS/TCS :

• Tax deducted late :Interest at the rates in force 1% per month from the date on which tax was deductible /collectible to the date of payment to Government Account is chargeable. 
• Tax deducted but not Deposited :The Finance Act 2010 amended interest rate wef 01.07.2010 and created a separate class of default in respect of tax deducted but not paid to levy interest at a higher rate of 1.5 per cent per month, as against 1 per cent p.m.,applicable in case the tax is deducted late after the due date. The rationale behind this amendment is that the tax once deducted belongs to the government and the person withholding the same needs to be penalized by charging higher rate of interest. 
• Interest for full month to be charged for month or part thereof. 
• Penalty : equal to the tax that was failed to be deducted/collected or remitted may be leviable.
• Prosecution :In case of failure to remit the tax deducted/collected, rigorous imprisonment ranging from 3 months to 7 years and fine may be levied.(section 276B and 276BB)
• Disallowance of Expenses : If TDS is not deposited with in due date of filing of Income tax return then 30 % of expenses on which TDS is deductible will be disallowed as expenses in current year under section 40A(ia) 

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• 11 : Late Fees -Penalty on Late filing of TDS return

1. Failure to apply for TAN in time or Failure to quote allotted TAN or Wrong quoting of TAN :           Penalty of Rs.10,000 is leviable u/s.272BB

2. Late Filing of TDS-TCS statement :  Deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file TDS statement continues. However, the total fee cannot exceed the amount of TDS deductible from which statement was required to be filed.(section 234E) .Further as per section 234E ,Late fees is required to be paid before the filing of TDS/TCS return.Read How to avoid Late fees u/s 234E (read more post related to section 234E)

3. Failure to File TDS return on Time and filling of incorrect statement : New Section for Penalty for non submission of ETDS /ETDS return (section 271H)(applicable from 01.07.2012)

Failure to deliver statement within time prescribed u/s 200 (3) or to the proviso to sub-section (3) of section 206C may liable to penalty which shall not be less than Rs. 10,000/- but which may extend to Rs. 1,00,000/-. No penalty if payment of tax deducted or collected along with fee or interest and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for delivering the such statement. However No penalty shall be imposed u/s 271H if the person proves that there was reasonable cause for the failure.(section 273B)

4. Penalty on Late issue of TDS certificate form 16/Form 16A/form 27D/Form 16B : 

If TDS certificate is not issued within due date as prescribed then penalty @ 200 per day may be imposed till the default continues for each default . However, the maximum penalty cannot exceed the amount of TDS deducted for which TDS certificate was required to be issued.

5. Assessee In default (amendment in section 201)

The Deductor will not to be treated as assessee in Default provided the resident payee has furnished his return u/s 139 and has taken into account such amount for computing income in such Return of Income and has paid the Tax Due on the income declared by him in such return of income and furnishes a certificate to this effect, duly certified by a CA, in the prescribed form. This form is yet to be notified. 

However, the interest for non deduction of tax would be payable from the date on which such tax was collectible till the date of furnishing of return of income by the resident payee.

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• 12 .Various Password required to Use Traces Website

Functionality	Password	Example
Password Formats for Tax Deductors
Registration	It should contain a minimum of 8 alphanumeric characters with at least one capital letter.	Password123
Consolidated File	TAN_Request Number of request submitted	DELA11111D_23456
Form 16/ 16A	TAN in capital letters	DELA11111D
Justification Report	JR_TAN_FormType_Quarter_FY	JR_DELA11111D_24Q_Q3_2010-11
Intimation through email	TAN_Date of filing original statement (in DDMMYYYY format)	DELA_13102013
Password Formats for Tax Payers
Registration	It should contain a minimum of 8 alpha numeric characters with at least one letter in upper case	Password123
Form 26 AS	Date of Birth (in DDMMYYYY format)	If your date of birth is 01-Feb-1980, password will be 01021980
Form 16B	Date of Birth (in DDMMYYYY format)	If your date of birth is 01-Feb-1980, password will be 01021980

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• 13. Other Point to be Noted

1. One Challan Can be deposited for all Sections ?
2. How to File Nil TDS return Online
3. How to download Consolidated FVU
4. TDS on Job work(194C) Tds on Job work has been relaxed read new definition u/s 194C.
5. TDS on Cold Storage (194C clarification)
6. No TDS on service tax on all section (circular -01/2014 dated 13.01.2014)
7. TDS on Rent (various circulars by department on tds on rent )
8. E-payment of TDS mandatory from 01.04.2008
9. E-Payment From Other Banks Account Allowed
10. TDS challan ITNS 281 In excel & 
11. How To pay Income Tax/Tds Online FAQ
12. Nil TDS on Transporter and others to be reported in ETDS quarterly returns
13. 1% TDS on transfer of property u/s 194IA wef 01.06.2013
14. TDS on rent section 194-1 brief notes, circular, notification and case laws
15. 42 Important points related to TDS/TCS deduction and etds return filing

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Complete details Of TDS rate changes for financial year 2017-18 Tcs rate changes, Due date to deposit TDS , Due date to issue Form 16, Due date to issue  Form 16A , Due date for filing E-TDS return Form 24Q/26Q,27EQ , Penalty and interest provision for late deposit of TDS ,consequences for default in filing of E tds Return , TDS rate applicable in case of Non submission of PAN ,TDS rate applicable on service tax or not , on job work or not , which rate is applicable to individual , HUF, who should deduct TDS , who should not deduct tds ,whether tds should be deducted on service tax on rent or professional services all such topics has been covered here under.Passwords to open various TRACES/e filing related files/utilities

[TDS-RATES CHART FY 18-19 AY 2019-20]