here any income or sum of the nature specified in column B of the Table below, is credited or paid or distributed by the person specified in column C during the tax year, to a resident, the person responsible for paying such income or sum shall deduct income-tax,— (a) on the entire amount of such income or sum, where the amount or aggregate of amounts exceeds the threshold limit specified in column D, or on sum as per Note 1 for serial number 8(ii), as the case may be; (b) at the rate specified in column D; (c) at the time of credit of such income or sum to the account of the payee or at the time of its payment in cash or by way of a cheque or a draft or by any other mode, whichever is earlier; and (d) subject to the provisions of sub-sections (4), (5), (6), (8) and (9). Table FOR PAYMENTS TO RESIDENT Sl. No. Nature of Income or sum Payer Rate Threshold limit A B C D 1. Commission or brokerage (i) Any income by way of Any person. Rate: Rates in force. remuneration or reward, —— whether by way of Threshold limit: commission or otherwise, for ₹ 20,000. soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of insurance policies). (ii) Any income by way of Specified Rate: 2% commission [not being person. insurance commission —— referred to in serial number Threshold limit: 1(i)] or brokerage. ₹ 20,000. 2. Rent (i) Any income by way of rent. Person Rate: 2% other than —— specified Threshold limit: ₹ 50,000 person. for a month or part of a month.
Sl. No. Nature of Income or sum Payer Rate Threshold limit A B C D (ii) Any income by way of rent. Specified Rate: (a) 2%, for the use person. of any machinery or plant or equipment; and (b) 10%, for the use of any land, or building (including factory building), or land appurtenant to a building (including factory building), or furniture, or fittings. —— Threshold limit [for (a) and (b)]: ₹ 50,000 for a month or part of a month. Note 1.––In serial number 2(i), the tax shall be deducted on such income at the time of— (a) credit of rent to the account of the payee; or (b) payment thereof in cash or by way of a cheque or a draft or any other mode, whichever is earlier, for the last month of the tax year or the last month of tenancy. 3. Payment on transfer of certain immovable property other than agricultural land (i) Any consideration for Person Rate: 1% of— transfer of any immovable [other than (a) consideration for property (other than the person transfer of the agricultural land). who are immovable property; or required to Deduct tax (b) stamp duty value under serial of such property, number whichever is higher. 3(iii)]. —— Threshold limit: Fifty lakh rupees and as per Note 3. (ii) Any consideration, not Any person. Rate: 10% being consideration in kind, —— under the agreement referred Threshold limit: Nil. to in section 67(14).
Sl. No. Nature of Income or sum Payer Rate Threshold limit A B C D (iii) Any sum, being in the Any person. Rate: 10% nature of— —— (a) compensation or the Threshold limit: enhanced compensation; or ₹ 5,00,000. (b) consideration or the enhanced consideration, on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultural land). Note 1.––Consideration for transfer of any immovable property under serial number 3(i) shall be the aggregate of the amounts paid or payable by all the transferees to the transferor or all the transferors for transfer of such immovable property for the purposes of the threshold limit mentioned in column D. Note 2.—In case of consideration on which provisions of both serial numbers 3(i) and 3(ii) are applicable, tax shall be deducted under 3(ii) only. Note 3.––For the purposes of serial number 3(iii), the income-tax shall be deducted where consideration for transfer of any immovable property or the stamp duty value of such property, is equal to or greater than fifty lakh rupees. A B C D 4. Income from capital market (i) Any income in respect Any person. Rate: 10% of— —— (a) units of a Mutual Fund Threshold limit: specified under Schedule VII (Table: Sl. No. 20 or 21); or ₹ 10,000. (b) units from the Administrator of the specified undertaking; or (c) units from the specified company. (ii) Any distributed income Any Rate: 10% referred to in section 223, being Business —— of the nature referred to in Trust. Schedule V (Table: Sl. Nos. 3 Threshold limit: Nil. and 4), payable to a unitholder of a Business Trust.
Sl. No. Nature of Income or sum Payer Rate Threshold limit A B C D (iii) Any income, other than Any Rate: 10% that proportion of income Investment —— which is exempt under fund Threshold limit: Nil. Schedule V (Table: Sl. No. 2), specified in in respect of units of an section 224. investment fund specified in section 224, payable to its unitholder. (iv) Any income, in respect Any Rate: 10% of an investment in a securitisation —— securitisation trust specified in trust Threshold limit: Nil.