Any remuneration or commission paid to director of the company(Effective from 1 July 2012)
NA
NIL
10
10
17
194LA
Compensation on acquisition of immovable property
100000
200000
10
10
18
194LLA
Payment on transfer of certain immovable property other than agricultural land (applicable only if amount exceeds : (a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)
NA
(a) INR 50 lakhs in case such property is situated in a specified urban agglomeration; or(b) INR 20 lakhs in case such property is situated in any other area) (Effective from 1 October 2012)
1
1
TCS Rates for the FY 2012-13
The Tax Collection at Source Rates for the Financial Year 2013-13 is tabulated below:
Sl.No.
Nature of Goods
Rates in %
01.04.2012
01.07.2012
1.
Alcoholic liquor for human Consumption
1
1
2.
Tendu leaves
5
5
3.
Timber obtained under forest lease
2.5
2.5
4.
Timber obtained by any mode other than a forest lease
2.5
2.5
5.
Any other forest produce not being timber or tendu leaves
2.5
2.5
6.
Scrap
1
1
7.
Parking lot
2
2
8.
Toll plaza
2
2
9.
Mining & Quarrying
2
2
10
Minerals, being coal or lignite or iron ore
NA
1
11
Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 2 lakhs)
NA
1
No Education 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.
Surcharge on Income-tax – Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
