CBDT Notifies ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16

S.O. 1014 (E).─ In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (Seventh Amendment) Rules, 2015.

(2)    They shall be deemed to have come into force with effect from the 1st day of April, 2015.

2. In the Income-tax Rules, 1962,─

(1) in rule 12,─

(a)   in sub-rule (1),-

(A)      after  the  words,  brackets,  figure  and  letter  “sub-section  (4D)”  the  words, brackets, figure and letter “or sub-section (4E)” shall be inserted;

(B)       for the figures “2014”, the figures “2015” shall be substituted;

(C)       in clause (a), in the proviso, in clause (I), for sub-clause (ii), the following sub- clauses shall be substituted, namely:-

“(ii) signing authority in any account located outside India; or

(iii) income from any source outside India;”;

(D)      in clause (ca), in the proviso, in clause (I), for sub-clause (ii) the following sub- clauses shall be substituted, namely:-

“(ii) signing authority in any account located outside India; or

(iii) income from any source outside India;”;

(E)       in clause (g), after the words, brackets, figure and letter “sub-section (4D)” the words, brackets, figure and letter “or sub-section (4E)” shall be inserted;

(b)  for sub-rule(3), the following sub-rule shall be substituted, namely:-

‘(3) The return of income referred to in sub-rule (1) shall be furnished by a person mentioned in column (ii) of the Table below to whom the conditions specified in column (iii) apply, in the manner specified in column (iv) thereof:-

Table

Sl.	Person	Condition	Manner of furnishing return of income
(i)	(ii)	(iii)	(iv)
1	Individual or       Hindu undivided family	(a) Accounts are required to be audited under section 44AB of the Act;	Electronically  under   digital signature
		(b) Where (a) is not applicable and,- (I)   the  return  is  furnished  in  Form No. ITR-3 or Form No. ITR-4; or (II)  the person, being a resident, other than    not     ordinarily    resident within   the   meaning     of    sub- section (6) of section 6, has, (A) assets       (including        financial interest  in  any  entity)  located outside   India;   or   (B)   signing authority in any account located outside   India;   or   (C)   income from any source outside India; (III) any relief, in respect of tax paid outside India, under section 90 or 90A  or  deduction  of  tax  under section 91 is claimed; or (IV) any report of audit referred to in	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.

		proviso to sub-rule (2) is required to be furnished electronically; or (V) total income assessable under the Act during the previous year of the person (other than the person, being an individual of the age of 80 years or more at any time during the previous year and furnishing  the  return  in  Form ITR-1 or ITR-2),- (i) exceeds five lakh rupees; or (ii) any refund is claimed in the return of income;
		(c)  In any other case.	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V; or (D)      Paper form;
2	Company	In all cases.	Electronically  under   digital signature.
3	A      person required to furnish the return in Form ITR-7	(a) In case of a political party;	Electronically  under   digital signature;
		(b) In any other case	(A)       Electronically     under digital signature; or (B)       Transmitting the data in  the  return  electronically

			under  electronic  verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.
4	Firm          or limited liability partnership or           any person (other than a person mentioned in Sl. 1 to 3 above) who is  required to file return in  Form ITR-5	(a)  Accounts are required to be audited under section 44AB of the Act;	Electronically  under   digital signature;
		(b)  In any other case.	(A)      Electronically    under digital signature; or (B)      Transmitting the data in the return electronically under electronic verification code; or (C)      Transmitting the data in  the  return  electronically and thereafter submitting the verification of the return in Form ITR-V.

Explanation.- For the purposes of this sub-rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).’

(d)  in sub-rule (4), for the words and brackets, “Director-General of Income-tax (Systems)”, the words and brackets “Principal Director-General of Income-tax (Systems) or Director- General of Income-tax (Systems)” shall be substituted;

(e) in sub-rule (5),  for the figures “2013”, the figures “2014” shall be substituted.

(2)  in  Appendix-II,  for  "Forms  SAHAJ (ITR-1),  ITR-2,  SUGAM (ITR-4S)  and  ITR-V"  the "Forms SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) and ITR-V" shall respectively, be substituted, namely:-

                     [Notification No. 41/2015/ F.No.142/1/2015-TPL]

(Gaurav Kanaujia)

Director to the Government of India

To Download official Notification Click Here

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Highlights of New Foreign Trade Policy 2015-2020

With a vision to provide a stable and sustainable policy environment for foreign trade in merchandise and services, expanding India’s markets and better integrating with major regions; to make India a significant participant in world trade by the year 2020 and to enable the country to assume a position of leadership in the international trade discourse by increasing India’s exports from USD 465.9 billion in 2013-14 to approximately USD 900 billion by 2019-20 by helping various sectors of the Indian economy to gain global competitiveness thereby increasing the demand for India’s products and contributing to the “Make in India”, “Digital India” and “Skills India”, the Central Government has notified the Foreign Trade Policy, 2015-2020 applicable w.e.f. 01.04.2015.

Service Providers can avail following benefits under new policy:

1. Service Provider of notified services shall be rewarded with scripts @3%/5% of net free foreign exchange earnings. Rate of reward will depend on nature of Services provided e.g. Auditing & Book Keeping Services-5%, Advertising Services-3%, Hospital Services-5%;
2. The scripts are transferable;
3. Scripts can be used for:

1. Payment of Custom on Import of goods (Notification No. 24/2015-Customs & 25/2015-Customs);
2. Payment of Excise Duty on procurement of goods (Notification No. 20/2015-CE & 21/2015-CE); and
3. Payment of Service Tax on procurement of services (Notification No. 10/2015-ST & 11/2015-ST)

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Free e-book on Computation of Depreciation under Companies Act,2013

For the benefit of the members icai has issued the free e-book on Computation of Depreciation under Companies Act,2013, complete text of the Application Guide can be downloaded by clicking the link given below: 

Download Free e-book on Computation of Depreciation under Companies Act,2013

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EPFO suspends Rs 1,000 minimum monthly pension scheme

New Delhi: Retirement fund body EPFO has suspended the Rs 1,000 minimum monthly pension scheme from this month, a decision which will hit about 32 lakh pensioners.

The scheme was launched with effect from September 2014, hiking the pension amount to a flat Rs 1,000 per month for those who were getting lower amount earlier.

With the suspension of the scheme, the beneficiaries will get pension at earlier rates.

In a circular to its field offices, the Employees Provident Fund Organisation (EPFO) said it has decided to suspend the scheme in the absence of any direction from the government to continue this benefit beyond March 31.

According to the government notification issued on August 19 last year, the benefit of minimum pension was made effective from September 1 to March, 2015.  

"Under the circumstance EPFO cannot go beyond the directions of the government and the provision of the notification dated August 19, 2014, and the payment pension from the month of April 2015 will be released at earlier rates i.E without minimum pension provision," the order said.

At present, EPFO has 49 lakh pensioners under the Employees Pension Scheme run by it.

The issue of providing Rs 1,000 minimum monthly pension in perpetuity had come in EPFO's trustees' meet held on December 19. All members of the Central Board of Trustees were in favour of proposal. Thereafter, the proposal was sent to the government for approval.

The EPFO has also suspended the enhanced pension payment to widows, children and orphans under the scheme.

Under the modified scheme, the minimum monthly pension for widows has been fixed at Rs 1,000 and for children at Rs 250 per month. Similarly, the minimum pension entitlement for orphans has been fixed at Rs 750 per month.

For implementing this scheme, the trustees had agreed to other amendments in the scheme which were not in the interest of propective pensioners in future.

Now the amended scheme provides that the pensionable salary will be the average monthly pay drawn during the contributory period of service for 60 months preceding the date of exit from membership of the pension fund.

Earlier the pensionable salary, which became the basis for computation of pension, was an average monthly pay drawn for 12 months. The new rule will be was also made effected from September 1, 2014.

The notification had also provided that those members who had opted for higher pension contributions compared to mandatory requirement as per the prescribed wage ceiling under the scheme, would have to exercise the fresh option in this regard within six month period beginning September 1.

At present, there are EPFO members who had exercised the option of higher contribution towards pension fund under the scheme. They were contributing for pension on over the Rs 6,500 monthly wage ceiling.

(Zee News)

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Remureration to managerial person under Schedule XIII of the Companies Act, 1956 - Clarification with regard to payment for period,

General Circular No, O7/2O15 
F. No. 1/5/2013-CL-V 
Government of lndia 
Ministry of Corporate Affairs 
5th Floor, A Wing, Shastri Bhavan, 
Dr R.P. Road, New Delhi 
Dated: 10th April, 2015 
To 
All Regional Directors, 
All Registrars of Companies, 
All Stakeholders. 

Subject: Remuneration to managerial person under Schedule XIII of the Companies Act, 1956 - Clarification with regard to payment for period, 

Sir, 

Stakeholders have drawn attention to the Provisions of Schedule XIll (sixth proviso to Para (C) of Section ll of Part ll) of the Companies Act, 1956 (Earlier Act) and as clarified vide Circular number 14/11/2O12-CL-VII dated 16th August, 2012, which allowed listed companies and their subsidiaries to pay remuneration, without approval of Central Government, in excess of limits specified in para II Para (C) of such Schedule if the managerial person met the conditions specified therein. Stakeholders have expressed that since similar provisions are not available in the Schedule V of the Companies Act, 2013, there is a need for a clarification that a managerial person appointed in accordance with such provision of Schedule XIII of Earlier Act may receive relevant remuneration for the period as approved by the company in accordance with such provisions of Earlier Act.

2. The matter has been examined in the light of earlier clarifications on transitional matters issued by the Ministry. It is clarified that a managerial person referred to in para 1 above may continue to receive remuneration for his remaining term in accordance with terms and conditions approved by company as per relevant provisions of Schedule XIII of earlier Act even if the part of his/her tenure falls after 1st April, 2014. 

3. This issues with the aDproval of the competent authority. 

To Download the official circular click here

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Companies cannot carry forward excess funds spent on CSR works: ICAI

April, 13th 2015

Excess amount spent by corporates on CSR activities in a particular fiscal under the companies law cannot be carried forward to subsequent financial years. With companies preparing to disclose details about CSR expenses in their annual filings, chartered accountants' apex body ICAI has issued detailed set of Frequently Asked Questions (FAQs) for its members with regard to reporting of such expenditure. "Any amount excess spent (more than two per cent as specified in Section 135) cannot be carried forward to the subsequent years," the Institute of Chartered Accountants of India (ICAI) has said. However, the company is entitled to disclose in their annual reports of subsequent years any such excess spending of previous years while giving reasons for not spending in those later years, it noted.  Section 135 in the Companies Act pertains to CSR. The compulsory Corporate Social Responsibility (CSR) norms, part of the Companies Act, came into effect from April 1, 2014. Certain class of profitable companies are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities. It said that any shortfall in spending in CSR should be explained in the financial statements and the board of directors have to state the amount unspent and reasons for the same. "Any such shortfall is not required to be provided for in the books of accounts. "However, if a company has already undertaken certain CSR activity for which a contractual liability has been incurred then, a provision for the requisite amount payable to record that liability needs to be recognised as per the applicable accounting standards," ICAI said. According to the institute, all social welfare spending expenses could be recognised separately as 'CSR expenditure' or under natural heads of expenses in the statement of profit and loss (P&L). In the latter case, there should be a break-up and the total amount spent on CSR activities during the particular year. "Some of the items which are charged to the P&L account in normal course, meeting the criteria for CSR expenditure, would also be eligible to be considered as a CSR expenditure," it added.  CSR norms are applicable on companies having at least Rs 1,000 crore turnover or Rs 500 crore net worth or a net profit of Rs 5 crore in any financial year. Such firms are also required to set up a CSR committee, having three or more directors and out of them, there should be at least one independent director. Grant Thornton India LLP's Partner Yogesh Sharma said the FAQs shall prove useful in addressing most of their questions, especially for accounting and presentation of the CSR amounts in the financial statements of a company, he said.

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Clarification on Rate of service tax & effective date by Service Tax Department

April, 13th 2015

Circular No. 183 / 02 / 2015-ST F. No. B-1 /1/2015-TRU Government of India Ministry of Finance Department of Revenue (Tax Research Unit) *** Room No. 153, North Block, New Delhi. Dated 10th April, 2015. To Chief Commissioner of Customs and Central Excise(All) Chief Commissioner of Central Excise & Service Tax (All) Director General of Service Tax Director General of Central Excise Intelligence Director General of Audit Commissioner of Customs and Central Excise (All) Commissioner of Central Excise and Service Tax (All) Commissioner of Service Tax (All) Madam/Sir, Dear Madam/Sir, Subject: Clarification on rate of service tax - regarding. Doubts have been expressed in various forums regarding the proposed increase in the rate of service tax from 12.36% (including education cesses) to 14% on the value of taxable service.  2.         It may be noted that changes proposed in the Budget have/are coming into effect on various dates as already indicated in JS (TRU-II) D.O. letter dated 28th February, 2015. Certain amendments made in the Finance Act, 1994, including the change in service tax rate, will come into effect from a date to be notified by the Government after the enactment of the Finance Bill, 2015.  3.        In this regard your attention is invited to clause 106 of the Finance Bill, 2015 and paragraph 3 of JS (TRU-II) D.O. letter, which  is reproduced below:- “3. Service Tax Rate: 3.1       The rate of Service Tax is being increased from 12% plus Education Cesses to 14%. The ‘Education Cess’ and ‘Secondary and Higher Education Cess’ shall be subsumed in the revised rate of Service Tax. Thus, the effective increase in Service Tax rate will be from the existing rate of 12.36% (inclusive of cesses) to 14%, subsuming the cesses. 3.2       In this context, an amendment is being made in section 66B of the Finance Act, 1994. Further, it has been provided vide clauses 179 and 187 respectively of the Finance Bill, 2015 that sections 95 of the Finance Act, 2004 and 140 of the Finance Act, 2007, levying Education Cess and Secondary and Higher Education Cess on taxable services shall cease to have effect from a date to be notified by the Government. 3.3       The new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015. 3.4       Till the time the revised rate comes into effect, the ‘Education Cess’ and ‘Secondary and Higher Education Cess’ will continue to be levied in Service Tax.” 4.         The paragraph reproduced above is self-explanatory and it is clear that the new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015. The date will be notified in due course after the enactment. 5.         Similarly, certain doubts have been raised with regard to abatement on value of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess, having the facility of air-conditioning or central air-heating in any part of the establishment, at any time during the year. Valuation of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess is determined as provided in rule 2C of the Service Tax (Determination of Value) Rules, 2006.

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CBEC clarification on Rate of Service Tax & Valuation for Restaurants

To eliminate all ambiguities regarding change in rate of Service Tax, CBEC has issued Circular No. 183/02/2015-ST dated 10th April, 2015 (F. No. B-1/1/2015-TRU). In this circular, CBEC has clarified that new Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015.

The date will be notified in due course after the enactment.

CBEC has also clarified that in Union Budget, 2015 no change has been made in Rule 2C of Service Tax (Determination of Value) Rules, 2006 regarding valuation of services provided in relation to serving of food or beverages by a restaurant, eating joint or a mess. The rate of service tax on the specified portion of the amount charged for such supply which is 40% continues to be 12.36% (including cesses) at present i.e. 4.944 %. The rate of Service tax, as discussed above, will continue unchanged till a date which will be notified in due course.
 

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MCA Notifies the Companies (Auditor's Report) Order, 2015. - (10-04-2015)

MINISTRY OF COMPANIES AFFAIRS NOTIFIES THE COMPANIES (AUDITOR’S REPORT) ORDER, 2015

Dear Members,

Please note that the Ministry of Corporate Affairs (MCA) has notified the Companies (Auditor’s Report) Order, 2015 on 10th April 2015. Click on the following URL for the text of the aforesaid Order. http://www.mca.gov.in/Ministry/pdf/Companies_Auditors_Report_Order_2015.pdf

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CBDT notifies Income Computation and Disclosure Standards

In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961, the CBDT has notified the income computation and disclosure standards. This notification shall come into force with effect from 1st day of April, 2015. 

Click the following link for downloading the complete Notification. 

http://www.incometaxindia.gov.in/communications/notification/notification33_2015.pdf 

CA. Tarun Jamnadas Ghia
Chairman, Direct Taxes Committee, ICAI

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Announcement on CARO, 2003 and Additional Reporting under the Companies Act, 2013

ANNOUNCEMENT ON CARO, 2003 AND ADDITIONAL REPORTING UNDER THE COMPANIES ACT, 2013

We are receiving queries from the members regarding applicability of CARO, 2003 along with Auditors’ Report on financial statements of companies for the financial year 2014-15. The Ministry of Corporate Affairs (MCA) is working on it and has constituted a Committee for this purpose to analyse the contents of the Order to be made under section 143(11) of the Companies Act, 2013 for the Financial Year 2014-15. ICAI is also a member of the said committee. We are given to understand by MCA that an Order being a smaller version of CARO 2003, applicable for the financial year 2014-15, may be notified soon under section 143(11) of the Companies Act, 2013. However, at this juncture, to bring more clarity, this Announcement is released in consultation with the Ministry.

The Companies Act, 1956 has ceased to have effect from 01st April, 2014. As a corollary, the Companies (Auditor’s Report) Order, 2003 issued under section 227(4A) of the said Act also ceases to have effect from the said date.

Section 143(11) of the Companies Act, 2013 which came into force from 01st April, 2014 provides that “the Central Government may, in consultation with the National Financial Reporting Authority, by general or special order, direct, in respect of such class or description of companies, as may be specified in the order, that the auditor’s report shall also include a statement on such matters as may be specified therein.”

Accordingly, it may be noted that as when an Order is notified by the Central Government under section 143(11) of the Companies Act, 2013, the members would be required to report thereon as a part of their statutory audit reports.

Until the aforesaid Order is issued, no additional reporting under section 143(11) of the Companies Act, 2013 is required by the Auditors for the financial year 2014-15.

Members are advised to keep a watch on the MCA site (www.mca.gov.in) as well as the ICAI site (www.icai.org) for further announcements in this regard.

CA ABHIJIT BANDYOPADHYAY
Chairman, Auditing & Assurance Standards Board

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Admit Cards for May 2015 Exams issued by ICAI. - (09-04-2015)

Admit cards in respect of all eligible candidates admitted to the Intermediate (IPC) and Final May 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in.

Candidates may print their admit cards from the said website.

For downloading/printing of the admit cards, candidates will have to enter the following details on the site:

• Student registration number or bar code number printed on the examination form
• Personal Identification Number (PIN)

PIN is the four digit number of the candidate’s choice entered by him/her the relevant column in the examination form.

In terms of the decision of the Examination Committee of the Institute, physical admit cards are being sent by post, only to those who submitted physical examination forms ( i.e. OMR ). The practice of sending physical admit cards by post, to those who had submitted their exam forms online, is discontinued with effect from May 2014 examination onwards.

Physical admit cards sent by post as well as those printed from the website are valid for admission to the examination.

Candidates may also visit the FAQs on subject hosted in the FAQs section of www.icai.org for more details.

For any further clarifications, write to/contact:

Final candidates: : final_examhelpline@icai.in
Intermediate(IPC) candidates : intermediate_examhelpline@icai.in

Help Line Telephone numbers: 0120 3054 851, 852, 853 or 835

Fax 0120 3054 841, 843

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Matter for circulation-- P&H HC: VAT unconstitutionally paid eligible for refund

The taxability on activation of SIM has been a long disputed issue, which attained finality post verdict of Hon'ble Supreme Court of India in case of BSNL v Union of India, in 2006.

However, the issue arose as to what would be the consequence of the amount paid as VAT prior to the said judgment

Recently, similar issue came up before Hon'ble High Court of Punjab & Haryana in the matter of Idea Cellular Limited v. Union of India

The Petitioner, M/s Idea Cellular Ltd., paid the VAT on the transactions of activation of SIM cards, since earlier in case of State of UP v. Union of India, Supreme Court held the activity of activation of SIM cards as exigible to VAT. However, post verdict in case of BSNL, the same was outside the purview of VAT. Therefore, petitioner demanded the refund of VAT so paid, as the same was outside the authority of law under article 265 of Constitution of India.

The respondent contended that the BSNL judgment is prospective in nature. Moreover, the state is not empowered to grant refund u/s 20 of Haryana VAT Act in such a case. And the direction for refund shall be the case of unjust enrichment, which is prohibited by law.

Hon'ble High Court held that BSNL judgment is applicable since inception & can't be construed as prospective in nature. 

Further, when the tax has been collected in the absence of authority of law, the High Court is empowered to issue writ for directing refund to the petitioners.

Accordingly, the amount of VAT paid shall be transferred to the Service Tax Department of Union.  

Comments:

The said judgment has acted as a breather for the industry and it is expected that other cases on the same ground are disposed of in favor of the assesses, in order to avoid unnecessary hardship. 

The judgement has been enclosed herewith for reference.

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TDS RATE CHART FY 2015-16 AY 16-17

TDS RATE CHART FY 2015-16 AY 16-17
Nature of Payment Made To Residents	Cutoff (Rs.)	Company / Firm / Co-operative Society / Local Authority	Individual / HUF	If No / Invalid PAN
Section - Description		Rate (%)
192 - Salaries	-	NA	Avg rates	30
192A-Premature withdrawal from EPF ( wef 01.06.2015)	30000	NA	10	20
193 - Interest on securities	-	10	10	20
194 - Dividends	2500	10	10	20
194A - Interest other than interest on securities - Others	5000	10	10	20
194A - Banks(Time deposits)	10000	10	10	20
194A - Banks (Recurring deposit)(01.06.15)	10000	10	10	20
194A - Deposit in Co-op Banks(01.06.15)	10000	10	10	20
194B - Winning from Lotteries	10000	30	30	30
194BB - Winnings from Horse Race	5000	30	30	30
194 C - Payment to Contractors	-	-	-	-
194C- Payment to Contractor - Single Transaction	30000	2	1	20
194C-Payment to Contractor - Aggregate During the F.Y.	75000	2	1	20
194C- Contract - Transporter who has provided valid PAN (up to 31.05.2015)	-	-	-	20
194C- Contract - Transporter not covered under 44AE (wef 01.06.2015)	30000 / 75000	2	1	20
194C- Contract - Transporter covered under 44AE & submit declaration on prescribed form with PAN (wef 01.06.2015)	-	-	-	20
194D - Insurance Commission	20000	10	10	20
194DA Payment in respect of life insurance policy(applicable from 01.1.2014)	100000	2	2	20
194E - Payment to Non-Resident Sportsmen or Sports Association	-	20	20	20
194EE - Payments out of deposits under NSS	2500	20	-	20
194F - Repurchase Units by MFs	-	20	20	20
194G - Commission - Lottery	1000	10	10	20
194H - Commission / Brokerage	5000	10	10	20
194I - Rent - Land and Building - furniture - fittings	180000	10	10	20
194I - Rent - Plant / Machinery / equipment	180000	2	2	20
194IA -Transfer of certain immovable property other than agriculture land(w.e.f 1-6-2013)	5000000	1	1	20
194J - Professional Fees	30000	10	10	20
194LA - Immovable Property	200000	10	10	20
194LB - Income by way of interest from infrastructure debt fund (non-resident)	-	5	5	20
194LB - Income by way of interest from infrastructure debt fund (non-resident)	-	5	5	20
Sec 194 LC - Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012)	-	5	5	20
194LD - Interest on certain bonds and govt. Securities(from 01-06-2013)	-	5	5	20
196B - Income from units	-	10	10	20
196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend)	-	10	10	20
196D - Income of FIIs from securities	-	20	20	20

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Minimum amount up to which TDS is not deducted / TDS Rate Chart / ( TDS Threshold limit) for F.Y 2016-17

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