TDS Rate Chart for FY 2020-21 or TDS Rates for AY 2021-22
Presenting TDS Rate Chart for FY 2020-21 based on Income Tax Budget 2020 revised TDS Rates or Proposed TDS Rates for Residents.
Some important TDS changes by Budget 2020 are amendement of section 194 whereby TDS will now be deducted on complete dividend, as dividend distribution tax (DDT) has been abolished and dividend will now be taxed in the hands of shareholders/unit holders.
Amendment of Section 194J, whereby TDS Rate on Technical services to be reduced to 2% from current 10%.
Introduction of section 194 O where by TDS to be deducted by E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform.
Introduction of section 194K where by person responsible for paying to a resident any income in respect of
units of a Mutual Fund would deduct TDS.
TDS Rates for AY 2021-22 are given below:
| Sl. No. | Nature of Payment | Sec | Basic Cut-off (Rs.) p.a. | TDS rate for Residents | ||
| Individual and HUF | Other than Individual/ HUF | If valid PAN/Aadhaar are not given | ||||
| 1 | Payment of Salaries by Employers | 192 | Slab rates for AY 2021-22 | Slab rate | Not applicable | 30% |
| 2 | Premature payment by PF Organization from EPF A/c (i.e. before 5 Years). | 192A | 50,000.00 | 10% | Not applicable | 20% |
| 3 | Payment of Interest on Securities by company. | 193 | 10,000.00 | 10% | 10% | 20% |
| 4 | Payment of Dividend
(w.e.f. 01.04.2020) |
194 | 2,500.00 | 10% | 10% | 20% |
| 5 | Payment of Interest by bank | 194A | 40000
(Non Sr. Citizen) 50000 (Sr. Citizen) |
10% | 10% | 20% |
| 6 | Payment of Interest by others | 194A | 5,000.00 | 10% | 10% | 20% |
| 7 | Payment of prize from Wining from Lotteries by any person. | 194B | 10,000.00 | 30% | 30% | 30% |
| 8 | Payment of prize from Wining from Horse Race by any person. | 194B | 10,000.00 | 30% | 30% | 30% |
| 9 | Payment to Contractors by any person. | 194C | 30,000.00 (Single bill) or 1,00,000.00 aggregate bills during the year. | 1% | 2% | 20% |
| 10 | Payment to Transporter Covered u/s. 44E and submit declaration in prescribed format. (i.e. owning less than 10 goods carriages) | 194C | – | – | – | 20% |
| 11 | Payment to Transporter not covered u/s. 44E (i.e. owning more than 10 goods carriages) | 194C | 30,000.00 (Single bill ) or 75,000.00 aggregate bills during the year. |
1% | 2% | 20% |
| 12 | Payment of Insurance Commission to agents by Insurance Company. | 194D | 15,000.00 | 5% | 10% | 20% |
| 13 | Payment in respect of maturity of Life Insurance Policy by Life Insurance Company. | 194DA | 1,00,000.00 | 1% | 1% | 20% |
| 14 | Payment to NRI sportsman or association by any person or organization | 194E | – | 20% | 20% | 20% |
| 15 | Payment out of deposit under National Saving Scheme (NSS) | 194EE | 2,500.00 | 10% | 10% | 20% |
| 16 | Payment with respect to repurchase of units by Mutual Fund Companies. | 194F | – | 20% | 20% | 20% |
| 17 | Payment of Lottery Commission | 194G | 15,000.00 | 5% | 5% | 20% |
| 18 | Payment of commission or Brokerage | 194H | 15,000.00 | 5% | 5% | 20% |
| 19 | Payment of rent on land, building, furniture and fittings. | 194I | 240,000.00 | 10% | 10% | 20% |
| 20 | Payment of rent on plant, machinery or equipments. | 194I | 240,000.00 | 2% | 2% | 20% |
| 21 | Payment made on account of transfer of immovable property other than agriculture land. | 194IA | 50,00,000.00 | 1% | 1% | 20% |
| 22 | Rent payable by individual not covered u/s. 194I for land, building, furniture and fittings | 194IB | 50,000.00 Per Month | 5% | 5% | 20% |
| 23 | Payment of Professional Fees other than call centers and Technical Fees | 194J | 30,000.00 | 10% | 10% | 20% |
| 24 | Payment of Technical Fees (w.e.f. 01.04.2020) | 194J | 30,000.00 | 2% | 2% | 20% |
| 25 | Payment of Professional Fees to call centers. | 194J | 30,000.00 | 2% | 2% | 20% |
| 26 | Compensation on transfer of certain immoveable property than Agriculture Land | 194LA | 250,000.00 | 10% | 10% | 20% |
| 27 | Payment of any income in respect of:
a) Units of a Mutual Fund as per Section 10(23D) b) The Units from the administrator c) Units from specified company (w.e.f. 01.04.2020) |
194K | – | 10% | 20% | |
| 28 | 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 |
194N | 2% | 2% | 20% | |
| 29 | Payment of commission (not being insurance 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. |
194M | 5% | 5% | 20% | |
| 30 | E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform. | 194O | 500,000.00 | 1% | 1% | 5% |
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