Rates of TDS applicable for Financial Year 2020-21 Assessment Year 2021-22 w.e.f 14th May 2020
| Nature of Payment | Basic Cut off (Rs.) | Individuals /Company and others New Rate %) |
Individuals /Company and others (Old Rate %) |
If No Pan or Invalid PAN (Rate %) |
| 192 – Salaries | Slab Rate | Slab Rates | Slab Rates | 22.5% |
| 192A- Premature withdrawal from Employee Provident Fund |
50000 | Individual: 7.5% Company: NA | Individual: 10% Company: NA | 15% |
| 193 – Interest on securities | – | Individual: 7.5% Company: 7.5% |
Individual: 10% Company: 10%` |
15% |
| 194 – Dividend other than the dividend as referred to in Section 115-O |
2500 | Individual: 7.5% Company: 7.5% |
Individual: 10% Company: 10% |
15% |
| 194A – Interest other than interest on securities – 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 Banks | 40000 (for individual) 50000(for Senior Citizens only) |
Company: 7.5% | Individual: 10% Company: 10% |
15% |
| 194B – Winning from Lotteries |
10000 | Individual: 22.5% Company: 22.5% |
Individual: 30% Company: 30% |
22.5% |
| 194BB – Winnings from Horse Race |
10000 | Individual: 22.5% Company: 22.5% |
Individual: 30% Company: 30% |
22.5% |
| 194C- Payment to Contractor – Single Transaction |
30000 | Individual: 0.75% Company: 1.5% |
Individual: 1% Company: 2% |
15% |
| 194C-Payment to Contractor – Aggregate During the Financial year |
100000 | Individual: 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 Commission |
15000 | Individual: 3.75% Company: 3.75% |
Individual: 5% Company: 5% |
15% |
| 194DA Payment in respect of life insurance policy | 100000 | Individual: 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 |
2500 | Individual: 7.5% Company: 7.5% |
Individual: 10% Company: 10% |
15% |
| 194F – Repurchase Units by MFs |
– | Individual: 15% Company: 15% |
Individual: 20% Company: 20% |
15% |
| 194G – Commission – Lottery |
15000 | Individual: 3.75% Company: 3.75% |
Individual: 5% Company: 5% |
15% |
| 194H – Commission / Brokerage |
15000 | Individual: 3.75% Company: 3.75% |
Individual: 5% Company: 5% |
15% |
| 194I – Rent – Land and Building – furniture – fittings |
240000 | Individual: 7.5% Company: 7.5% |
Individual: 10% Company: 10% |
15% |
| 194I – Rent – Plant / Machinery / equipment |
240,000 | Individual: 1.5% Company: 1.5% |
Individual: 2% Company: 2% |
15% |
| 194IA -Transfer of certain immovable property other than agriculture land |
50,00,000 | Individual: 0.75% Company: 0.75% |
Individual: 1% Company: 1% |
15% |
| 194IB – Rent – Land or building or both |
50000 per month |
Individual: 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) |
30000 | Individual: 1.5% Company: 1.5% |
Individual: 2% Company: 2% |
15% |
| 194J – Professional Fees in all other cases |
30000 | Individual: 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 |
250000 | Individual: 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. Securities |
– | Individual: 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. |
50,00,000 | Individual: 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 |
20,00,000 | Individual: 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. |
100,00,000 | Individual: 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 resident | – | – | – | Higher of Rate in force or Double Taxation Avoidance Act rate |
| 196B – Income from units | – | Individual: 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 securities |
– | Individual: 20% Company: 20% |
Individual: 15% Company: 15% |
15% |
*It is further stated that there shall be no reduction in rates of TDS or TCS, where the tax is required to be deducted or collected at higher rate due to non furnishing of PAN / Aadhaar. For example, if the tax is required to be deducted at 20% under section 206AA of the Income-tax Act due to non-furnishing of PAN / Aadhaar, it shall be deducted at the rate of 20% and not at the rate of 15%,