Download TDS Rate Chart for FY 2020-21 & AY 2021-22

This article covers- Latest TDS Rate Chart for FY 2020-21 & AY 2021-22, New Turnover limit for the purpose of TDS applicability as per Finance Act 2020 and TDS Due dates.

New TDS section and Amendment introduced in Finance Act 2020:

Nature of paymentBasic cut off (Rs.) (Old)Basic cut off (Rs.) (New)Rate % (old)Rate % (New)If NO Pan or Invalid Pan (Rate %)
194J – Professional Fees for technical services (w.e.f. from 1.4.2020)300003000010220
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 company1020
194N – Cash withdrawal in excess of Rs. 20 lakhs during the previous year from one or more accounts maintained by a person with a banking company, co-operative society engaged in the business of banking or a post office.20 Lakhs20 Lakhs220
194N – Cash withdrawal in excess of Rs. 1 crore during the previous year1 Crore220
194O- Applicable for E-Commerce operator120

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New Turnover limit for the purpose of TDS applicability as per Finance Act 2020:

TDS was applicable to individual and HUF if there accounts are liable to Audit in section 44AB in previous year. The Finance Act 2020, says All individuals & HUF will be liable to deduct TDS if, the turnover had cross Rs. 1 Crore in case of business and Rs. 50 Lakhs in case of profession in previous year. These amendment shall take effect from 1st April 2020.

Rates of TDS applicable for Financial Year 2020-21 Assessment Year 2021-22

Nature of PaymentBasic Cut off (Rs.)Individuals and HUF (Rate %)Company / Firm / LLP / Co-op Society / Local Authority (Rate %)If No Pan or Invalid PAN (Rate %)
192 – TDS on salary payment

As per

Slab Rate

As per

Slab Rates

As per

Slab Rates

30
192A- Premature withdrawal from Employee Provident Fund50000NA1020
193 – TDS on Interest on securities101020
194 – Dividend other than the dividend as referred to in Section 115-O2500101020
194A – Interest other than interest on securities – Others40000 (for individual)101020
194A – Banks (Time deposits)40000 (for individual) 50000 (for Senior Citizens only)101020
194A – Banks (Recurring deposit)40000 (for individual) 50000(for Senior Citizens only)101020
194A – Deposit in Co-op Banks40000 (for individual) 50000(for Senior Citizens only)101020
194B – TDS on lotteries Winnings10000303030
194BB – TDS on horse race Winnings10000303030
194C- TDS on payment made to Contractor – Single Transaction300001220
194C-TDS on Payment made to Contractor – Aggregate1000001220
194C- Contract – Transporter not covered under 44AE30000 / 750001220
194C- TDS on payment made to Transporter in case of transporter submit a declaration20
194D – Insurance Commission150005520
194DA Payment in respect of life insurance policy1000001120
194E – TDS on Payment made to NR sport association or Sportsmen202020
194EE – Payments out of deposits under National Savings Scheme2500101020
194F – TDS in case Mutual Fund Repurchase Units202020
194G – TDS on lottery Commission150005520
194H – Commission / Brokerage150005520
194I – Rent – Land and Building – furniture – fittings240000101020
194I – Rent – Plant / Machinery / equipment240,0002220
194IA -Transfer of certain immovable property other than agriculture land50,00,0001120
194IB – Rent – Land or building or both50000 per month520
194IC – Payment of Monetary consideration under Joint development agreement101020
194J – Professional Fees for technical services (w.e.f. from 1.4.2020)300002220
194J – Professional Fees in all other cases30000101020
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 company101020
194LA – TDS on compensation for compulsory acquisition of immovable Property250000101020
194 LBA (1)-TDS deduction by Business trust 10100
194LB – Interest Income from Non-Resident infrastructure debt fund5520
194LBB – Income in respect of investment in Securitisation trust.103040
194LBC- Income in respect of investment made in a securitisation trust253040
194 LC – Interest Income by an Indian specified company to a non-resident / foreign company5520
194LD – Interest on certain bonds and govt. Securities5520
194M – Payment of Commission, professional fee by an Individual/HUF who are not liable to Audit under this act.50,00,00055 
194N – Cash withdrawal in excess of Rs. 1 crore20,00,00022 
194N – Cash withdrawal in excess of Rs. 1 crore100,00,00022 
194O- TDS by E-Commerce operator11 
195- Payment of any sum to Non residentHigher of Rate in force or Double Taxation Avoidance Act rate
196B – Income from units101020
196C- Foreign currency bonds or GDR Income101020
196D – TDS on Income from securities for Foreign Institutional Investor202020

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Download TDS Rate Chart for FY 2020-21 & AY 2021-22

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