TDS & TDS Rates on Lockdown
TDS Rate Chart for F.Y. 2020-21 (A.Y: 2021-22)
|
Section |
Nature of payment |
Threshold Limit |
Applicable from 1st
April to 13th May 2020 |
Applicable from 14th
May to 31st March 2021 |
|
Resident |
Resident |
|||
|
Rs. |
TDS Rate (%) |
TDS Rate (%) |
||
|
192 |
Salaries |
- |
Normal slab rate |
Normal slab rate |
|
192A |
Premature withdrawal from EPF |
50,000 |
10 |
10 |
|
193 |
Interest on securities - 8% Savings (Taxable)
Bonds, 2003 or 7.75% Savings (Taxable) Bonds, 2018 during the financial year |
10,000 |
10 |
7.5 |
|
193 |
Interest on securities - Interest on securities
for money issued by or on behalf of any local authority/statutory
corporation, listed debentures of a company(other than demat form), any other
interest on securities |
5,000 |
10 |
7.5 |
|
194 |
Dividends |
5,000 |
10 |
7.5 |
|
194A |
Interest (Banking co., co-operative society
engaged in banking, post office) |
40,000 |
10 |
7.5 |
|
194A |
Interest (Any other person) |
5,000 |
10 |
7.5 |
|
194B |
Winning from lotteries |
10,000 |
30 |
30 |
|
194BB |
Winning from Horse race |
10,000 |
30 |
30 |
|
194C |
Contractor-Single Transaction -Individual/HUF -Others |
30,000 |
1 2 |
0.75 1.5 |
|
194C |
Contractor – Consolidated Payment During the F.Y. - Individual/HUF - Others |
1,00,000 |
1 2 |
0.75 1.5 |
|
194D |
Insurance commission - Other than Company - Company |
15,000 |
5 10 |
3.75 10 |
|
194DA |
Maturity of Life insurance policy |
1,00,000 |
5 |
3.75 |
|
194E |
Non-resident sportsmen or sports association |
- |
- |
- |
|
194EE |
NSS |
2500 |
10 |
7.5 |
|
194F |
Repurchase units by MFs |
- |
20 |
15 |
|
194G |
Commission-Lottery |
15,000 |
5 |
3.75 |
|
194H |
Commission/Brokerage |
15,000 |
5 |
3.75 |
|
194I |
Rent of - Plant/Machinery /Equipment - Land and Building/Furniture & Fixture |
2,40,000 |
2 10 |
1.5 7.5 |
|
194IA |
Transfer of certain immovable property other than
agriculture land |
50 lakh |
1 |
0.75 |
|
194IB |
Rent by Individual/HUF |
50,000 per month |
5 |
3.75 |
|
194IC |
Payment under Joint Development
Agreements to Individual/HUF |
- |
10 |
7.5 |
|
194J |
Professional Fees |
30,000 |
10 |
7.5 |
|
194J |
Technical Fees (w.e.f. 01.04.2020) |
30,000 |
2 |
1.5 |
|
194J |
Payment to call centre operator (w.e.f.
01.06.2017) |
30,000 |
2 |
1.5 |
|
194J |
Director's fees |
- |
10 |
7.5 |
|
194K |
Payment of any income in respect of (a) units of a mutual fund as per section
10(23D); or (b) the units from the administrator; or (c) units from specified company (w.e.f. 01.04.2020) |
5,000 |
10 |
7.5 |
|
194LA |
Compensation on transfer of certain immovable
property other than agriculture land (TDS exempted if covered under RFCTLARR Act
w.e.f. 01.04.2017) |
2,50,000 |
10 |
7.5 |
|
194LB |
Income by way of interest from infrastructure
debt fund |
- |
- |
- |
|
194LBA |
Income from units of business trust - interest received or receivable from a special
purpose vehicle; or - dividend referred to in sub-section (7) of
section 115-O |
- |
10 10 |
7.5 7.5 |
|
194LBA |
Distribution of rental income to unit holders - Other than Comapany - Company |
- |
10 10 |
7.5 7.5 |
|
194LBB |
Income in respect of units of investment fund - Other than Company - Company |
- |
10 10 |
7.5 7.5 |
|
194LBC |
Income in respect of investment in securitization
fund - Individual/HUF - Company - Other Person |
- |
25 30 30 |
18.75 22.5 22.5 |
|
194LC |
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 |
- |
- |
- |
|
194LC |
Income by way of interest by an Indian specified
company on rupee denominated bond / any long-term bonds from outside India,
which is listed only on a recognized stock exchange located in any
International Financial Services Centre |
- |
- |
- |
|
194LD |
Interest on certain bonds from Govt. securities |
- |
- |
- |
|
194M |
Certain payments by Individual/HUF |
50 lakh |
5 |
3.75 |
|
194N |
Payment of certain amount in cash |
1 Crore |
2 |
2 |
|
194N |
Payment of certain amount in cash (first proviso
of section 194N)if- - Amount is more than Rs.20 lakh but
up to Rs. 1 crore - Amount exceeds Rs. 1 crore
(Applicable from 01.07.2020) |
|
N.A. N.A. |
2 5 |
|
194-O |
Applicable for e-commerce operator for the sale
of goods or provision of services facilitated by it through its digital or
electronic facility or platform (Applicable from 01.10.2020) |
- |
N.A |
0.75 |
|
195 |
Income of Investment made by an NRI |
- |
- |
- |
|
195 |
Long-term capital gain - Under Section - 115E/ 112(1)(c)(iii)/112A - Any Other Gains |
- |
- - |
- - |
|
195 |
Short-term capital gain - 111A |
- |
- |
- |
|
195 |
Royalty |
- |
- |
- |
|
195 |
Fees for technical services |
- |
- |
- |
|
195 |
Interest income payable by Govt./Indian concern
(other than section 194LB or 194LC) |
- |
- |
- |
|
195 |
Any Other Income - Other than Company - Company |
- |
- - |
- - |
|
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 |
- |
- |
- |
|
196B |
Income from units to an offshore fund |
- |
- |
- |
|
196C |
Income from foreign currency bonds or GDR of an
Indian company |
- |
- |
- |
|
196D |
Income of foreign Institutional Investors from
securities (not being dividend or capital gain) |
- |
- |
- |
Note:
In case of non-furnishing of PAN/Aadhaar by deductee, TDS will be charged at
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)
|
Section |
Nature of payment |
Applicable from 1st
April to 13th May 2020 |
Applicable from 14th
May to 31st March 2021 |
|
TCS Rate (%) |
TCS Rate (%) |
||
|
206C |
Scrap |
1 |
0.75 |
|
206C |
Tendu leaves |
5 |
3.75 |
|
206C |
Timber obtained under a forest lease or other
mode |
2.5 |
1.875 |
|
206C |
Any other forest produce not being a timber or
tendu leaves |
2.5 |
1.875 |
|
206C |
Alcoholic liquor for human consumption and Indian
made foreign liquor |
1 |
1 |
|
206C |
Parking lot, toll plaza, mining and quarrying
(other than mining and quarrying of mineral oil, petroleum and natural gas) |
2 |
1.5 |
|
206C |
Minerals, being coal or lignite or iron ore |
1 |
0.75 |
|
206C |
Sale of motor vehicle of the value exceeding Rs.
10 Lacs |
1 |
0.75 |
|
206C |
Remittance out of India under the Liberalized
Remittance Scheme of the RBI of the value exceeding 7 Lacs in a financial
year (Applicable from 01.10.2020) – TCS will be charged on excess
amount over 7 lacs |
N.A. |
5 |
|
206C |
Sale of overseas tour programme package (Applicable
from 01.10.2020) |
N.A. |
5 |
|
206C |
Remittance out of India for education under the
Liberalized Remittance Scheme of the RBI of the value exceeding 7 Lacs in a
financial year (Applicable from 01.10.2020) – TCS will be
charged on excess amount over 7 lacs |
N.A. |
0.5 |
|
206C |
Sale of any goods (other than goods exported out
of India or goods given in the above points) of the value exceeding 50
Lacs (Applicable from 01.10.2020) – TCS will be charged on excess
amount over 50 lacs |
N.A. |
0.075 |
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.
DISCLAIMER: The views expressed are
strictly of the author. The contents of this article are solely for
informational purpose. It does not constitute professional advice or
recommendation of firm. Neither the author nor firm and its affiliates accepts
any liabilities for any loss or damage of any kind arising out of any
information in this article nor for any actions taken in reliance thereon.