Applicable TDS Rates are
same as were in force for F.Y. 2013-13 except the changes specified below:-
I. Rates for deduction of income-tax at source
during the financial year 2013-14 from certain incomes other than “Salaries”.
The rates for deduction of income-tax at source
during the financial year 2013-14 from certain incomes other than “Salaries”
have been specified in Part II of the First Schedule to the Bill. The rates for
all the categories of persons will remain the same as those specified in Part
II of the First Schedule to the Finance Act, 2012, for the purposes of
deduction of income-tax at source during the financial year 2012-13, except
that in case of certain payments made to a non-resident (other than a company)
or a foreign company, in the nature of income by way of royalty or fees for
technical services, the rate shall be twenty-five percent of such income.
(1) Surcharge—
The amount of tax so deducted, in the case of a
non-resident person (other than a company), shall be increased by a surcharge
at the rate of ten per cent. of such tax, where the income or the aggregate of
such incomes paid or likely to be paid and subject to the deduction exceeds one
crore rupees .
The amount of tax so deducted, in the case of a
company other than a domestic company, shall be increased by a surcharge at the
rate of two per cent. of such tax, where the income or the aggregate of such
incomes paid or likely to be paid and subject to the deduction exceeds one
crore rupees but does not exceed ten crore rupees and it shall be increased by
a surcharge at the rate of five per cent. of such tax, where the income or the
aggregate of such incomes paid or likely to be paid and subject to the
deduction exceeds ten crore rupees.
No surcharge will be levied on deductions in
other cases.
(2) Education Cess—
“Education Cess on income-tax” and “Secondary
and Higher Education Cess on income-tax” shall continue to be levied at the
rate of two per cent. and one per cent. respectively, of income tax including
surcharge wherever applicable, in the cases of persons not resident in India
including companies other than domestic company.
II. Rates for deduction of income-tax at source
from “Salaries”, computation of “advance tax” and charging of income-tax in
special cases during the financial year 2013-14.
The rates for deduction of income-tax at source
from “Salaries” during the financial year 2013-14 and also for computation of
“advance tax” payable during the said year in the case of all categories of
assessees have been specified in Part III of the First Schedule to the Bill.
These rates are also applicable for charging income-tax during the financial
year 2013-14 on current incomes in cases where accelerated assessments have to
be made , for instance, provisional assessment of shipping profits arising in
India to non-residents, assessment of persons leaving India for good during the
financial year, assessment of persons who are likely to transfer property to
avoid tax, assessment of bodies formed for a short duration, etc.
