TDS Rate Chart for AY 2021-22 and FY 2020-21

Due to the Covid-19 situation, the rates of TDS on payments made to resident Indians have been reduced by 25% for the period starting from 14th May 2020 to 31st March 2021. However, there shall be no reduction in rates, where tax is required to be deducted or collected at a higher rate due to non-furnishing of PAN/Aadhaar.

The following tables list the various TDS rates applicable to resident and non-resident payments as well as TDS rates on domestic and foreign companies in India. Any person paying income is responsible to deduct tax at source and depositing TDS within the stipulated due date.

 

Section Nature of payment Threshold Limit Applicable from 01/04/2020 to 13/05/2020 Applicable from 14/05/2020 to 31/03/2021
      Resident Non-resident * Resident Non-resident *
    Rs.  TDS Rate (%) TDS Rate (%) TDS Rate (%) TDS Rate (%)
192 Salaries - Normal slab rate Normal slab rate Normal slab rate Normal slab rate
192A Premature withdrawal from EPF 50000 10 10 10 10
194 Dividends 5000 10 - 7.5 -
194A Interest (Banking co., co-operative society engaged in banking, post office) 40000 10 - 7.5 -
194D Insurance commission

- Other than Company

- Company

15000  

5

10

 

-

-

 

3.75

10

 

-

-

194F Repurchase units by MFs - 20 20 15 20
194H Commission/Brokerage 15000 5 - 3.75 -
194I Rent of - Plant/Machinery /Equipment

- Land and Building/Furniture & Fixture

240000 2

10

-

-

1.5

7.5

-

-

194IA Transfer of certain immovable property other than agricultural land 50 lakh 1 - 0.75 -
194IB Rent by Individual/HUF 50000 per month 5 - 3.75 -
194J Professional Fees 30000 10 - 7.5 -
194J Technical Fees (w.e.f. 01.04.2020) 30000 2 - 1.5 -
194N Payment of a certain amount in cash 1 Crore 2 2 2 2
195 Income of Investment made by an NRI - - 20 - 20
195 Long-term capital gain

- Under Section - 115E/

112(1)(c)(iii)/112A

- Any Other Gains

-  

 

-

-

 

 

10

20

 

 

-

-

 

 

10

20

195 Short-term capital gain - 111A - - 15 - 15
195 Royalty - - 10 - 10
195 Fees for technical services - - 10 - 10
195 Interest income payable by Govt./Indian concern (other than section 194LB or 194LC) - - 20 - 20
195 Any Other Income - Other than Company

                 - Company

- -

 

-

30

 

40

-

 

-

30

 

40

196A Income in respect –

- of units of a Mutual Fund specified under clause (23D) of section 10; or

- from the specified company referred to in the Explanation to clause (35) of section 10

- - 20 - 20

* TDS rate shall be increased by applicable surcharge and Health & Education Cess.

Note: In case of non-furnishing of PAN/Aadhaar by deductee, TDS will be charged at a normal rate or 20% (5% in case of section 194-O), whichever is higher.

TCS Rate Chart for F.Y. 2020-21 (A.Y: 2021-22)

 

Note: In case of non-furnishing of PAN/Aadhaar by collectee, TCS will be charged at twice of the normal rate applicable or 5% {1% in case of sale of any goods (given in the last point) of the value exceeding 50 Lacs}, whichever is higher.

 

In case you are confused about TDS Return Filing, feel free to consult the experts at Wealthcafe.

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