TDS Rate Chart for FY 2020-21 or TDS Rates for AY 2021-22

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. [caption id="attachment_86665" align="aligncenter" width="862"] TDS Rate Chart for FY 2020-21 or TDS Rates for AY 2021-22[/caption] 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%