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TDS / TCS RATES FOR F.Y.2020-21

Section Nature of Payment Threshold Limit of Payment 01-04-2020 to 31-03- 2021
192

Income from Salary

Senior Citizen (60 Years)

Rs. 3,00,000
Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)

Super Senior Citizen (80 Years)

Rs. 5,00,000
Others Rs. 2,50,000
192A Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)
Rs. 50,000
10%
193

* Interest on Securities

Rs. 10,000 10% &
 (7.5% from 14/05/2020 to 31/03/2021)
194 Dividend—
Dividend other than the dividend as referred to in Section 115-O
10% &
(7.5% from 14/05/2020 to 31/03/2021)
194A

Interest from a Banking Company

Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen 10% &
 (7.5% from 14/05/2020 to 31/03/2021)
194A

Interest other than from a Banking Company

Rs. 5,000 per annum 10% &
(7.5% from 14/05/2020 to 31/03/2021)
194B

Winning from Lotteries & Cross Word Puzzles

Rs. 10,000 per annum 30%
194BB Winnings from horse races Rs. 10,000 per annum 30%
194C Payment to contractor/sub-contractor Rs.30,000 per contract (or)
Rs. 1,00,000 per annum
Individual/HUF 1% Others 2% &
(Individual/HUF 0.75% , Others 1.5% from 14/05/2020 to 31/03/2021)
194D Insurance Commision Rs. 15,000
Resident:5% & ( 3.75% from 14/05/2020 to 31/03/2021)
Domestic Company:10% & ( 7.5% from 14/05/2020 to 31/03/2021)
194DA

 

 

 

 

Payment under life insurance policy (including Bonus)

 

- With effect from September 1, 2019 : 5% of the amount of income comprised in payment

Rs.1,00,000 per annum

 

 

 

 

 1%

 

 

 5% & 
(3.75% from 14/05/2020 to 31/03/2021)

 

194E

Non-resident Sportman or Sports Association

-

20%
194EE

Out of deposit under NSS

Rs.2,500
Individual or HUF 10%
& (7.5% from 14/05/2020 to 31/03/2021)
Other NA
194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India   20% &
(15% from 14/05/2020 to 31/03/2021)
194G

Commission on Sale of Lottery Tickets

Rs. 15,000
5% &
(3.75% from 14/05/2020 to 31/03/2021)
194H **Commission/Brokerage Rs. 15,000 per annum
5% &
(3.75% from 14/05/2020 to 31/03/2021)
194-I(a) **Rent on Plant / Machinery Rs. 2,40,000 per annum 2% &
(1.5% from 14/05/2020 to 31/03/2021)
194-I(b)

**Land or building or furniture or fitting

Rs. 2,40,000 per annum 10% &
(7.5% from 14/05/2020 to 31/03/2021)
194-IA Payment or transfer of Non -agricultural immovable property Rs. 50,00,000 & above 1% &
(0.75% from 14/05/2020 to 31/03/2021)
194-IB
Rent payable by an individual or HUF not liable to tax audit
Rs.50,000 per month


                                                    5% &
                     (3.75% from 14/05/2020 to 31/03/2021)

194-IC
Payment of monetary consideration under Joint Development Agreements

-

10% &
(7.5% from 14/05/2020 to 31/03/2021)
194J




Fees for Professional / Technical Services



Rs. 30,000 per annum




2% (For Call Centre) &
(1.5% from 14/05/2020 to 31/03/2021)
10% (For Others) &
(7.5% from 14/05/2020 to 31/03/2021)
194-K



194LA
Payment of dividend by mutual funds

Compulsory
Acquisition of immovable Property
.


Rs 2,50,000
10% &
(7.5% from 14/05/2020 to 31/03/2021)


10% &
(7.5% from 14/05/2020 to 31/03/2021)
194LBA(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. - 10% &
(7.5% from 14/05/2020 to 31/03/2021)
194LBB(i) Investment fund paying an income to a unit holder  [other than income which is exempt under Section 10(23FBB)]

-

10% & (7.5% from 14/05/2020 to 31/03/2021)
 Invalid PAN 20%
Non-Resident 30%
Foreign Company 40%
194LBC(1) Income in respect of investment made in a securitisation trust 

-

Individual/HUF 25% &( 18.75% from 14/05/2020 to 31/03/2021)
Other 30% & (22.5% from 14/05/2020 to 31/03/2021)
Foreign Company 40%
194M TDS on payment to resident contractors and professionals (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. Rs. 50 lacs 5% (w.e.f 01.09.2019) &
(3.75% from 14/05/2020 to 31/03/2021)
194N

 

 

 

 

 

 

 

 

 

194-O

TDS on cash withdrawal from Bank, Post office etc.

 

 

 

 

 

 

 

 

 


Tds on E-commerce participants

i) in excess of Rs. 1 crore

ii) in excess of Rs. 20 lakhs*

 

* for those persons who have not filed return of income (ITR) for three previous years immediately preceding the previous year in which cash is withdrawn, and the due date for filing ITR under section 139(1) has expired. The deduction of tax under this situation shall be at the rate of:

a) 2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year; or

b) 5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year.

 

 

 

 







i). 2%                                          

ii). 2% or 5% ( from 01/07/2020)







 

 

 

 

 

 

 

 

 

(0.75% w.e.f 01/10/2020 to 31/03/2021)


 

 

* Only for Debenture in which the public are substantially interested

** Other than Individual or HUF except those covered u/s 44AB

TCS Rates

206C 

Scrap

-

1.00% &
(0.75% from 14/05/2020 to 31/03/2021)
206C 

Tendu Leaves

-

5.00% &
(3.75% from 14/05/2020 to 31/03/2021)
206C 

Timber obtained under a forest lease or other mode

-

2.50% &
(1.875% from 14/05/2020 to 31/03/2021)
206C 

Any other forest produce not being a Timber or tendu leave

-

2.50% &
(1.875% from 14/05/2020 to 31/03/2021)
206C

Alcoholic Liquor for Human Consumption

-

1.00%
206C

Parking lot, toll plaza, mining & quarrying

-

2.00% &
(1.5% from 14/05/2020 to 31/03/2021)
206C Purchase of coal lignite, Iron ore by a trader - 1.00% &
(0.75% from 14/05/2020 to 31/03/202

206C




206C 






Sale Value of Motor vehicle whether in cheque or in any other mode of receipt



Sale of any other goods








Exceeding Rs. 10 Lakhs per transaction










1.00% &
(0.75% from 14/05/2020 to 31/03/2021)




(0.075% w.e.f 01/10/2020 to 31/03/2021)






Notes 

1. Surcharges & Education Cess

Type of Payment Surcharge
Rate Health and Education Cess (4.00%)
Salary (Resident & Non- resident) Upto 50 Lacs
Nil Yes
50 Lacs to  1 Crore 10%
Salary (Resident & Non- resident)
> 1 Crore but upto 2 Crore

> 2 crore but upto 5 crore

> 5 crore

15%

 25 %

 37 %

Yes

Yes

Yes

Other Payments to Residents No Nil No
Other Payments to Non-Residents


Payment to Non-Residents (other than Cos) Up to Rs. 50 lakh Nil Yes
Payment to Non-Residents (other than Cos) More than Rs. 50 lakh but up to Rs. 1 crore 10% Yes

Yes

Yes

Yes

More than Rs. 1 crore but upto 2 crore

More than Rs. 2 crore but upto 5 crore

More than Rs. 5 crore

15%

25%

37%

Payments to Foreign Co. Upto 1cr Nil  Yes

Yes

Yes

 

 

 

> 1 Crore 2%
> 10 Crore

 

 

 

5%

 

 

 

 Interest for failure to deduct tax at source/delay in payment of TDS

Stage of deduction

Rate per month or part of the month

From date when deductible till actual deduction

1.00%

From date of deduction till payment

1.50%




TDS / TCS RATES FOR F.Y.2019-20
Section Nature of Payment Threshold Limit of Payment 01-04-2019 to 31-03- 2020
192

Income from Salary

Senior Citizen (60 Years)

Rs. 3,00,000
Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)

Super Senior Citizen (80 Years)

Rs. 5,00,000
Others Rs. 2,50,000
192A Premature Withdrawal from EPF (wef 01.06.2015) (*If PAN not furnished Rate of TDS at Maximum Mariginal Rate of 34.608%)
Rs. 50,000
10%
193

* Interest on Securities

Rs. 10,000 10%
194 Dividend—
Dividend other than the dividend as referred to in Section 115-O
10%
194A

Interest from a Banking Company

Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen 10%
194A

Interest other than from a Banking Company

Rs. 5,000 per annum 10%
194B

Winning from Lotteries & Cross Word Puzzles

Rs. 10,000 per annum 30%
194BB Winnings from horse races Rs. 10,000 per annum 30%
194C Payment to contractor/sub-contractor Rs.30,000 per contract (or)
Rs. 1,00,000 per annum
Individual/HUF 1% Others 2%
194D Insurance Commision Rs. 15,000
Resident:5%
Domestic Company:10%
194DA

 

 

 

 

Payment under life insurance policy (including Bonus)

 

- With effect from September 1, 2019 : 5% of the amount of income comprised in payment

Rs.1,00,000 per annum

 

 

 

 

 1%

 

 

 5%

 

194E

Non-resident Sportman or Sports Association

-

20%
194EE

Out of deposit under NSS

Rs.2,500
Individual or HUF 10%
Other NA
194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India   20%
194G

Commission on Sale of Lottery Tickets

Rs. 15,000
5%
194H **Commission/Brokerage Rs. 15,000 per annum
5%
194-I **Rent on Plant / Machinery Rs. 2,40,000 per annum 2%
194-I

**Land or building or furniture or fitting

Rs. 2,40,000 per annum 10%
194-IA Payment or transfer of Non -agricultural immovable property Rs. 50,00,000 & above 1%
194-IB
Rent payable by an individual or HUF not liable to tax audit
Rs.50,000 per month


5%

194-IC
Payment of monetary consideration under Joint Development Agreements

-

10%
194J Fees for Professional / Technical Services Rs. 30,000 per annum 2% (For Call Centre)
10% (For Others)
194LA
Compulsory Acquisition of immovable Property Rs. 2,50,000
10%
194LBA 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. - 10%
194LBB Investment fund paying an income to a unit holder  [other than income which is exempt under Section 10(23FBB)]

-

10% or Invalid PAN 20%
Non-Resident 30%
Foreign Company 40%
194LBC Income in respect of investment made in a securitisation trust 

-

Individual or HUF 25%
Other 30%
Foreign Company 40%
194M TDS on payment to resident contractors and professionals (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. Rs. 50 lacs 5% (wef 01.09.2019)
194N TDS on cash withdrawal from Bank, Post office etc. Rs. 1 crore 2% (wef 01.09.2019)

* Only for Debenture in which the public are substantially interested

** Other than Individual or HUF except those covered u/s 44AB

TCS Rates

206C

Scrap

-

1.00%
206C

Tendu Leaves

-

5.00%
206C

Timber obtained under a forest lease or other mode

-

2.50%
206C

Any other forest produce not being a Timber or tendu leave

-

2.50%
206C

Alcoholic Liquor for Human Consumption

-

1.00%
206C

Packing lot, toll plaza, mining & quarrying

-

2.00%
206C Purchase of coal lignite, Iron ore by a trader - 1.00%
206C Sale Value of Motor vehicle whether in cheque or in any other mode of receipt Exceeding Rs. 10 Lakhs per transaction 1.00%

Notes

1. Surcharges & Education Cess

Type of Payment Surcharge
Rate Health and Education Cess (4.00%)
Salary (Resident & Non- resident) Upto 50 Lacs
Nil Yes
50 Lacs to  1 Crore 10%
Salary (Resident & Non- resident)
> 1 Crore but upto 2 Crore

> 2 crore but upto 5 crore

> 5 crore

15%

 25 %

 37 %

Yes

Yes

Yes

Other Payments to Residents No Nil No
Other Payments to Non-Residents


Payment to Non-Residents (other than Cos) Up to Rs. 50 lakh Nil Yes
Payment to Non-Residents (other than Cos) More than Rs. 50 lakh but up to Rs. 1 crore 10% Yes

Yes

Yes

Yes

More than Rs. 1 crore but upto 2 crore

More than Rs. 2 crore but upto 5 crore

More than Rs. 5 crore

15%

25%

37%

Payments to Foreign Co. Upto 1cr Nil  Yes

Yes

Yes

 

 

 

> 1 Crore 2%
> 10 Crore

 

 

 

5%

 

 

 

 Interest for failure to deduct tax at source/delay in payment of TDS

Stage of deduction

Rate per month or part of the month

From date when deductible till actual deduction

1.00%

From date of deduction till payment

1.50%

 
     
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