TDS Rates for F.Y. 2020-21 Revised From 14th May, 2020 To 31st March 2021
PRESS RELEASE on 13/5/2020
FINACIAL YEAR 2020-21 (1st april 2020 To 31st March 2021)
TDS rates F.Y.2020-21
| S.NO. | SECTION OF THE INCOME TAX ACT | NATURE OF PAYMENT | BASIC CUT-OFF (₹) p.a. | EXISTING RATE OF TDS | REDUCED RATE FROM 14/05/2020 TO 31/03/2020 |
| 1 | 193 | Interest on Securities | 5,000 | 10% | 7.5% |
2 | 194 | Dividend Payment | 5,000 | 10% | 7.5% |
| 3 | 194A | Interest Other than interest on securities | 5,000(others) 40,000(Non Sr.Citizen) 50,000 (Sr.Citizen) | 10% | 7.5% |
| 4 | 194C | Payment of Contractors and sub-contractors | 30,000(Single Bill) or 1,00,000 Aggregate bills during the year | 1%(individual/HUF) 2%(others) | 0.75% (individual/HUF) 1.5% (others) |
| 5 | 194D | Payment of Insurance Commission to Agents by Insurance Company | 15,000 | 5%(Other than Company) 10% (Company) | 3.75% (Other than Company) 10% (Company) |
| 6 | 194DA | Payment in respect of Maturity of life insurance policy by life insurance company | 1,00,000 | 5% | 3.75% |
| 7 | 194EE | Payment in respect of deposits under National Savings Scheme (NSS) | 2,500 | 10% | 7.5% |
| 8 | 194F | Payment on account of re-purchase of units by Mutual Funds or UTI | - | 20% | 15% |
| 9 | 194G | Payment of Commission, Prize etc., on sale of lottery tickets | 15,000 | 5% | 3.75% |
| 10 | 194H | Payment of Commission or Brokerage | 15,000 | 5% | 3.75% |
| 11 | 194-I(a) | Rent for plant and machinery or equipments | 2,40,000 | 2% | 1.5% |
| 12 | 194-I(b) | Rent for immovable property (land,building,furniture and fittings) | 2,40,000 | 10% | 7.5% |
| 13 | 194-IA | Payment for acquisition of immovable property | 50,00,000 | 1% | 0.75% |
| 14 | 194-IB | Payment for rent by individual or HUF (not coverd u/s 194I for land,building,furniture and fittings) | 50,000 per month | 5% | 3.75% |
| 15 | 194-IC | Payment for Joint Development Agreement | - | 10% | 7.5% |
| 16 | 194J | Fee for Professional or Technical Services (FTS), Royalty, etc. Director's fees | 30,000 - | 2%(FTS,certain royalties,call centre) 10% (others) | 1.5%(FTS,certain royalties,call centre) 7.5%(others) |
| 17 | 194K | Payment of dividend by Mutual Funds | 5,000 | 10% | 7.5% |
| 18 | 194LA | Payment of Compensation on acquisition of immovable property | 2,50,000 | 10% | 7.5% |
| 19 | 194LBA(1) | Payment of income by Business Trust | - | 10% | 7.5% |
| 20 | 194LBB(i) | Payment of income by Investment fund | - | 10% | 7.5% |
| 21 | 194LBC(1) | Income by Securitisation Trust | - | 25% (Individual/HUF) 30% (Others) | 18.75% (Individual/HUF) 22.5% (Others) |
| 22 | 194M | Payment to Commission,Brockerage etc. by Individual and HUF | 50 lack | 5% | 3.75% |
| 23 | 194-O | TDS on E-commerce participants | - | 1% (w.e.f. 1.10.2020) | 0.75% |
NOTE : In case of Non-furnishing of PAN/Aadhar by Deductee, TDS will charged at Normal rate or 20% (5% in cas of section 194-O), whichever is higher.
TCS rates F.Y. 2020-21
| S.No. | Section of The Income tax Act | Nature of Receipts | Existing Rate of TCS | Reduced rate from 01/05/2020 to 31/03/2021 |
| 1 | 206C(1) | Tendu Leaves | 5% | 3.75% |
| 2 | Scrap | 1% | 0.75% | |
| 3 | Minerals, being Coal or lignite or iron ore | 1% | 0.75% | |
| 4 | Timber obtained under a forest lease or Other mode | 2.5% | 1.875% | |
| 5 | Any other forest produce not being timber or tendu leaves | 2.5% | 1.875% | |
| 6 | 206C(1C) | Parking lot, Toll Plaza, Mining and Quarrying (Other than mining and quarrying of mineral oil, petroleum and natural gas) | 2% | 1.5% |
| 7 | 206C(1F) | Sale of motor vehicle above 10 lakhs | 1% | 0.75% |
| 8 | 206C(1H) | Sale of any other goods | 0.1%(w.e.f. 01.10.2020) | 0.75% |
TDS & TCS rates reduced by 25% up to march 2021
you can download here TDS rates for A.Y. 2021-22 (F.Y. 2020-21).you can downlod pdf format this Link Given below:
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