Tds Rate chart for FY 2020-21 & AY 2021-22

Apr-19-2020
by admin
Tds

Tds Rate chart for FY 2020-21 & AY 2021-22

Overview :  <div align="left"><p class="MsoNormal" style="text-align:center">Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the Deducter <span style="mso-spacerun:yes"> </span>is supposed to deduct a certain percentage of income as tax before making the payment to the receiver & the same has been updated in deductees pan so that they can claim that tds amount at the filling of their income tax return.The payment includes salary, commission, professional fees, interest, rent, etc.<span style="mso-ansi-language:EN-IN" lang="EN-IN"></span></p></div>

Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the Deducter is supposed to deduct a certain percentage of income as tax before making the payment to the receiver & the same has been updated in deductees pan so that they can claim that tds amount at the filling of their income tax return.The payment includes salary, commission, professional fees, interest, rent, etc.

Nature of Payment	Basic Cut off (Rs.)	Individuals and HUF (Rate %)	Company / Firm / LLP / Co-op Society / Local Authority (Rate %)	If No Pan or Invalid PAN (Rate %)
192 – Salaries	Slab Rate	Slab Rates	Slab Rates	30
192A- Premature withdrawal from Employee Provident Fund	50000	NA	10	20
193 – Interest on securities	–	10	10	20
194 – Dividend other than the dividend as referred to in Section 115-O	2500	10	10	20
194A – Interest other than interest on securities – Others	40000 (for individual)	10	10	20
194A – Banks (Time deposits)	40000 (for individual) 50000 (for Senior Citizens only)	10	10	20
194A – Banks (Recurring deposit)	40000 (for individual) 50000(for Senior Citizens only)	10	10	20
194A – Deposit in Co-op Banks	40000 (for individual) 50000(for Senior Citizens only)	10	10	20
194B – Winning from Lotteries	10000	30	30	30
194BB – Winnings from Horse Race	10000	30	30	30
194C- Payment to Contractor – Single Transaction	30000	1	2	20
194C-Payment to Contractor – Aggregate During the Financial year	100000	1	2	20
194C- Contract – Transporter not covered under 44AE	30000 / 75000	1	2	20
194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN	–	–	–	20
194D – Insurance Commission	15000	5	5	20
194DA Payment in respect of life insurance policy	100000	1	1	20
194E – Payment to Non-Resident Sportsmen or Sports Association	–	20	20	20
194EE – Payments out of deposits under National Savings Scheme	2500	10	10	20
194F – Repurchase Units by MFs	–	20	20	20
194G – Commission – Lottery	15000	5	5	20
194H – Commission / Brokerage	15000	5	5	20
194I – Rent – Land and Building – furniture – fittings	240000	10	10	20
194I – Rent – Plant / Machinery / equipment	240,000	2	2	20
194IA -Transfer of certain immovable property other than agriculture land	50,00,000	1	1	20
194IB – Rent – Land or building or both	50000 per month	5	–	20
194IC – Payment of Monetary consideration under Joint development agreement	–	10	10	20
194J – Professional Fees for technical services (w.e.f. from 1.4.2020)	30000	2	2	20
194J – Professional Fees in all other cases	30000	10	10	20
194K- Payment of any income in respect of Units of Mutual fund as per section 10(23D) or Units of administrator or from a specified company	–	10	10	20
194LA – TDS on compensation for compulsory acquisition of immovable Property	250000	10	10	20
194 LBA (1)- Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders.		10	10	0
194LB – Income by way of interest from infrastructure debt fund (non-resident)	–	5	5	20
194LBB – Income in respect of investment in Securitisation trust.	–	10	30	40
194LBC- Income in respect of investment made in a securitisation trust	–	25	30	40
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	–	5	5	20
194LD – Interest on certain bonds and govt. Securities	–	5	5	20
194M – Payment of Commission, brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.	50,00,000	5	5
194N – Cash withdrawal in excess of Rs. 1 crore during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office.	20,00,000	2	2
194N – Cash withdrawal in excess of Rs. 1 crore during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office.	100,00,000	2	2
194O- Applicable for E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform.	–	1	1
195- Payment of any sum to Non resident	–	–	–	Higher of Rate in force or Double Taxation Avoidance Act rate
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

Tds Rate chart for FY 2020-21 & AY 2021-22

Tds Rate chart for FY 2020-21 & AY 2021-22

Categories

Recent Posts

Professional GST Registration Service in Muzaffarnagar - Luxe Finalyzer

Professional GST Registration Service in Haldwani - Luxe Star

Professional GST Registration in Aligarh - Luxe Finalyzer

GST Registration in Moradabad UP - Luxe Finalyzer

Professional GST Registration in Lucknow - Luxe Finalyzer

Gst Registration in Hauz Khas Delhi - Luxe Finalyzer

Expert GST Registration Consultants in Delhi - Luxe Finalyzer

For More Information

Email : [email protected]

Phone : 01141623205, 9990061912