Key TDS Sections and Rates

  • 194C: Contractor -- 1% individual, 2% company, threshold Rs.30,000
  • 194J: Professional/technical services -- 10%, threshold Rs.30,000
  • 194H: Commission/brokerage -- 5%, threshold Rs.15,000
  • 194I: Rent -- 10% (plant 2%), threshold Rs.2.4 lakh/year
  • 192: Salary -- as per slab, no threshold
  • 194Q: Purchase of goods -- 0.1%, threshold Rs.50 lakh/year

TDS Deposit Due Dates

  • Government deductors: same day
  • Other deductors: 7th of next month
  • March TDS: April 30

TDS Return Due Dates (Quarterly)

  • Q1 (April-June): July 31
  • Q2 (July-Sept): October 31
  • Q3 (Oct-Dec): January 31
  • Q4 (Jan-March): May 31

Penalty for TDS Default

  • Non-deduction interest: 1% per month
  • Late deposit interest: 1.5% per month
  • Late return penalty: Rs.200 per day

MyCamate files TDS returns Form 24Q and 26Q for businesses across India