TDS Rate Chart for FY 2020-21

Rates of TDS applicable for Financial Year 2020-21 Assessment Year 2021-22 from 14th May 2020 are as under

Nature of PaymentBasic Cut off (Rs.)Individuals
/Company and others New Rate %)
Individuals
/Company and others (Old Rate %)
If No Pan or Invalid PAN (Rate
%)
192 - SalariesSlab RateSlab RatesSlab Rates22.5%
192A
Premature withdrawal from Employee Provident Fund
50000Individual: 7.5% Company: NAIndividual: 10% Company: NA15%
193 - Interest on securitiesIndividual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%`
15%
194 - Dividend other than
the dividend as referred to in Section 115_O
2500Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194A - Interest other than
interest on securities Ð Others
40000 (for individual)Individual: 7.5%Individual: 10%
Company: 10%
15%
194A - Banks (Time deposits)40000 (for individual) 50000 (for Senior Citizens
only)
Company: 7.5%Individual: 10%
Company: 10%
15%
194A - Banks (Recurring deposit)40000 (for individual) 50000(for Senior
Citizens only)
Individual: 7.5%Individual: 10%
Company: 10%
15%
194A - Deposit in Co-op Banks40000 (for individual) 50000(for Senior Citizens
only)
Company: 7.5%Individual: 10%
Company: 10%
15%
194B - Winning from
Lotteries
10000Individual: 22.5%
Company: 22.5%
Individual: 30%
Company: 30%
22.5%
194BB - Winnings from Horse Race10000Individual: 22.5%
Company: 22.5%
Individual: 30%
Company: 30%
22.5%
194C- Payment to
Contractor Ð Single Transaction
30000Individual: 0.75%
Company: 1.5%
Individual: 1%
Company: 2%
15%
194C-Payment to
Contractor - Aggregate During the Financial year
100000Individual: 0.75%
Company: 1.5%
Individual: 1%
Company: 2%
15%
194C - Contract -
Transporter not covered under 44AE
30000 /
75000
Individual: 0.75%
Company: 1.5%
Individual: 1%
Company: 2%
15%
194C - Contract - Transporter covered under 44AE & submit declaration on prescribed form with
PAN
15%
194D - Insurance Commission15000Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194DA Payment in respect of life insurance policy100000Individual: 0.75%
Company: 0.75%
Individual: 1%
Company: 1%
15%
194E - Payment to Non_ Resident Sportsmen or
Sports Association
Individual: 20%
Company: 20%
Individual: 15%
Company: 15%
15%
194EE - Payments out of
deposits under National Savings Scheme
2500Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194F - Repurchase Units by MFsIndividual: 15%
Company: 15%
Individual: 20%
Company: 20%
15%
194G - Commission - Lottery15000Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194H - Commission / Brokerage15000Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194I - Rent - Land and
Building - furniture - fittings
240000Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194I - Rent - Plant / Machinery / equipment2,40,000Individual: 1.5%
Company: 1.5%
Individual: 2%
Company: 2%
15%
194IA -Transfer of certain
immovable property other than agriculture land
50,00,000Individual: 0.75%
Company: 0.75%
Individual: 1%
Company: 1%
15%
194IB Rent Land or building or both50000 per monthIndividual: 3.75%Individual: 5%15%
194IC - Payment of Monetary consideration under Joint development
agreement
Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194J - Professional Fees for technical services (w.e.f.
from 1.4.2020)
30000Individual: 1.5%
Company: 1.5%
Individual: 2%
Company: 2%
15%
194J - Professional Fees in all other cases30000Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
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 company
Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194LA TDS on
compensation for compulsory acquisition of
immovable Property
250000Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
194 LBA (1) - Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned
directly by it, to its unit holders.
Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
0
194LB - Income by way of
interest from infrastructure debt fund (non_resident)
Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194LBB - Income in respect
of investment in Securitisation trust.
Individual: 7.5%
Company: 22.5%
Individual: 10%
Company: 30%
30%
194LBC - Income in respect of investment made in a
securitisation trust
Individual: 18.75%
Company: 22.5%
Individual: 25%
Company: 30%
30%
194 LC - 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
Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194LD - Interest on certain bonds and govt. SecuritiesIndividual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194M - Payment of 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.
50,00,000Individual: 3.75%
Company: 3.75%
Individual: 5%
Company: 5%
15%
194N - Cash withdrawal in excess of Rs. 20
Lakh during the previous year from one or more account maintained by a person with a banking
company, co_operative
20,00,000Individual: 1.5%
Company: 1.5%
Individual: 2%
Company: 2%
15%
Society engaged in business of banking or a post office.
194N - 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.
100,00,000Individual: 1.5%
Company: 1.5%
Individual: 2%
Company: 2%
15%
194O - Applicable for E- Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or
platform.
Individual: 0.75%
Company: 0.75%
Individual: 1%
Company: 1%
15%
195 - Payment of any sum to Non residentHigher of Rate in force or Double Taxation Avoidance
Act rate
196B - Income from unitsIndividual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
196C Income from foreign currency bonds or GDR (including long_term capital gains on transfer of such
bonds) (not being dividend)
Individual: 7.5%
Company: 7.5%
Individual: 10%
Company: 10%
15%
196D - Income of FIIs from securitiesIndividual: 20%
Company: 20%
Individual: 15%
Company: 15%
15%

Due dates for TDS quarterly Returns:

QuarterPeriod  Due Date
Q11 April 2020 - 30 June 202031st July 2020
Q21 July 2020 - 30 September 202031st October 2020
Q31 October 2020 - 31 December
2020
31st January 2020
Q41 January 2020 - 31 March 202131st May 2021

Due dates for TDS payment:

Month Due date for Government deductorsDue date for other deductors
(Company, Individual, HUF etc)
 
April7th May 20207th May 2020
May7th June 20207th June 2020
June7th July 20207th July 2020
July7th August 20207th August 2020
August7th September 20207th September 2020
September7th October 20207th October 2020
October7th November 20207th November 2020
November7th December 20207th December 2020
December7th January 20217th January 2021
January7th February 20217th February 2021
February7th March 20217th March 2021
March7th April 202130th April 2021

Interest on late payment and Late deduction of TDS:

As per section 201(1A) Interest at the rate of 1% per month or part of the month on amount of

TDS from the date of tax was deductible till the date of tax actually deducted shall be charged for late deduction.

Also, for late payment Interest at the rate of 1.5 % per month or part of the month on amount of TDS from the date of tax was deducted till the date such tax is paid shall be charged.

Interest on late payment of TDS: Changes made as per Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 24th March 2020:

For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum (i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

Fees for default in filing of TDS/ TCS return:

Fees is payable at Rs. 200 per day for each day during which the failure continues. The amount of fees cannot exceed than the amount of TDS

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