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.

 

SectionNature of paymentThreshold LimitApplicable from 01/04/2020 to 13/05/2020Applicable from 14/05/2020 to 31/03/2021
   ResidentNon-resident *ResidentNon-resident *
  Rs. TDS Rate (%)TDS Rate (%)TDS Rate (%)TDS Rate (%)
192Salaries-Normal slab rateNormal slab rateNormal slab rateNormal slab rate
192APremature withdrawal from EPF5000010101010
194Dividends500010-7.5-
194AInterest (Banking co., co-operative society engaged in banking, post office)4000010-7.5-
194DInsurance commission

- Other than Company

- Company

15000 

5

10

 

-

-

 

3.75

10

 

-

-

194FRepurchase units by MFs-20201520
194HCommission/Brokerage150005-3.75-
194IRent of - Plant/Machinery /Equipment

- Land and Building/Furniture & Fixture

2400002

10

-

-

1.5

7.5

-

-

194IATransfer of certain immovable property other than agricultural land50 lakh1-0.75-
194IBRent by Individual/HUF50000 per month5-3.75-
194JProfessional Fees3000010-7.5-
194JTechnical Fees (w.e.f. 01.04.2020)300002-1.5-
194NPayment of a certain amount in cash1 Crore2222
195Income of Investment made by an NRI--20-20
195Long-term capital gain

- Under Section - 115E/

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

- Any Other Gains

- 

 

-

-

 

 

10

20

 

 

-

-

 

 

10

20

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

                 - Company

--

 

-

30

 

40

-

 

-

30

 

40

196AIncome 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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