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TDS-Rate-Chart

 

TDS Rate Chart

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Introduction-
Here I am describe about TDS Rate- Any person paying income is responsible to deduct TDS and need to deposit the same within the stipulated time period. The below rates are applicable to person "Resident in India". Due to COVID-19 pandemic, the rate of Tax Deduction at Source (TDS) for the following non-salaried specified payments made to residentds has been reduced by 25% for the period from 14th May 2020 to 31st March 2021-


Section Nature of Payment Normal Rate of TDS up to 13.05.2020 (If Pan Available) Revised Rate of TDS w.e.f. 14.05.2020 to 31.03.2021 (If Pan Available) Rate of TDS (If No Pan Available) Amount on which TDS to be deducted
192 Income from Salary As per Income Tax Slab As per Income Tax Slab 30% As per Income Tax Slab (Existing/New)
193 Interest on Securities 10% 7.5% 20% Amount credit or Paid, whichever is earlier, when the amount exceeds Rs. 10,000/- per annum
194 Dividend other than reffered in 115-O 10% 7.5% 20% Before making the payment to shareholder -otherthan divident declared u/s 115-O, when amount exceeds Rs. 2,500/-
194-A Interest other than Interest on Securities 10% 7.5% 20% Interest received from Post Offices/ Bank Deposits exceeds Rs. 10,000/- 40,000 per annum w.e.f. 01.04.2019, as amended in Budget 2019
Interest received from Post Offices/ Banks on Saving/ FD/ Recurring deposits exceeds Rs. 50,000/- per annum by Senior Citizens w.e.f. 01.04.2018
194-B Income by way of Winning from lotteries, Crossward puzzles, Games etc. 30% 30% 30% Income exceeds Rs. 10,000/- per annum
194-BB Winning from Horse Races 30% 30% 30% Income exceeds Rs. 10,000/- per annum
194-C Payment to Contractor & Sub Contractor For Individual/HUF-1% & Other than Individual/HUF 2% For Individual/HUF-0.75% & Other than Individual/HUF 1.5% 20% Amount paid or credited, whichever is earlier, when the amount of a single contract exceed Rs. 30,000/- or total amount of contract exceeds Rs. 1,00,000 per annum
194-D Insurance Commission 5% 3.75% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 15,000/- per annum
194-DA Payment under Life Insurance Policy (Including Bonus) 1% 0.75% 20% At the time of Payment, when the amount exceeds Rs. 1,00,000/-per annum
194-EE Payment in respect of deposit under National Saving Scheme 10% 7.5% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 2,500/-
194-F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India 20% 15% 20% Amount paid or credited, whichever is earlier
194-G Commission on Sale of Lottery Tickes 5% 3.75% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 15,000/- per annum
194-H Payment of Commission or Brokerage 5% 3.75% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 15,000/- per annum
194-I Rent- Plant & Machinery and Equipments etc. 2% 1.5% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 1,80,000/- 2,40,000 p.a. w.e.f. 01.04.2019, as amended in Budget 2019
194-I Rent-Land & Building 10% 7.5% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 1,80,000/- 2,40,000 per annum w.e.f. 01.04.2019, as amended in Budget 2019
194-IA Payment on transfer of an immovable property other than Agricultural Land 1% 0.75% 20% Amount paid or credited, whichever is earlier, when the amount exceeds Rs. 50,00,000/-
194-IB Payment of Rent by an Individual/HUF not covered under section 194-I 5% 3.75% 20% Amount paid or credited, whichever is earlier when the payment of Rent @ 50,000/- per month
194-J Any sum paid by way of: a) Fee for professional services,  b) Fee for technical services,  c) Royalty d) Remuneration/fee/commission to a director ore), For not carrying out any activity in relation to any business),  For not sharing any know-how, patent, copyright etc. Fees for technical services @ 2% (w.e.f. 01.04.2020) or any other fees @ 10% Fees for technical services @ 1.50% or any other fees @ 7.5% 20% Amount paid or credited, whichever is earlier when the amount exceeds Rs. 30,000 per annum
194-K 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) 10% 7.5% 20% Amount paid or credited, whichever is earlier
194-LA Payment of compensation on acquisition of certain immovable property 10% 7.5% 20% Amount paid or credited, whichever is earlier
194-LBA Income (specified) distributed by a business trust to its unit holder 10% 7.5% 20% Amount paid or credited, whichever is earlier
194-LBB Income (specified) paid by an investment fund to its investors 10% 7.5% 20% Amount paid or credited, whichever is earlier
194-LBC Income in respect of investment in securitization fund In case of Individual/HU F@ 25% or in case of others @ 30% In case of Individual/HU F@ 18.75% or in case of others @ 22.5% 30% Amount paid or credited, whichever is earlier
194-M Payments to Contractors/Professionals by Individual/HUF (Limit – 50 Lakhs) 5% 3.75% 20% Amount paid or credited, whichever is earlier
194-N TDS on cash withdrawal- If the amount is more than Rs. 20 lakh but up to Rs. 1 crore (Applicable from 01.07.2020), Earlier it was applicable if exceeding Rs. 1 Crore 2% 2% 20% Amount paid or credited, whichever is earlier
194-N TDS on cash withdrawal- If the amount exceeds Rs. 1 crore (Applicable from 01.07.2020), Earlier the rate was 2% 5% 5% 20% Amount paid or credited, whichever is earlier
 



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