TDS New Page 1

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

Section

Nature of Payment

Threshold Limit of Payment

01-04-2020 to 13-05-2020 

New rates from 14-05-2020 to 31-03-2021

192

Income from Salary

Senior Citizen (60 Years)

Rs. 3,00,000

Super Senior Citizen (80 Years)

Rs. 5,00,000

Others

Rs. 2,50,000

Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)

Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)

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%

10%

193

* Interest on Securities

Rs. 10,000

10%

7.5%

194

Dividend—
Dividend other than the dividend as referred to in Section 115-O

 

10%

7.5%

194A

Interest from a Banking Company

Rs. 40,000 per annum /Rs. 50,000 per annum for Senior citizen

10%

7.5%

194A

Interest other than from a Banking Company

Rs. 5,000 per annum

10%

7.5%

194B

Winning from Lotteries & Cross Word Puzzles

Rs. 10,000 per annum

30%

30%

194BB

Winnings from horse races

Rs. 10,000 per annum

30%

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%

194D

Insurance Commision

Rs. 15,000

Resident:5%

Domestic Company:10%

Resident:3.75%

Domestic Company:10%

194DA

Payment under life insurance policy (including Bonus)

Rs.1,00,000 per annum

Upto 31-08-2019 : 1%

w.e.f 01-09-2019 : 5%

 

3.75%

194E

Non-resident Sportman or Sports Association

 

20%

20%

194EE

Out of deposit under NSS

Rs.2,500

Individual or HUF 10%

Others-NA

(Individual or HUF 7.5%

Others-NA

194F

Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India

 

20%

15%

194G

Commission on Sale of Lottery Tickets

Rs. 15,000

5%

3.75%

194H

**Commission/Brokerage

Rs. 15,000 per annum

5%

3.75%

194-I(a)

**Rent on Plant / Machinery

Rs. 2,40,000 per annum

2%

1.5%

194-I(b)

**Land or building or furniture or fitting

Rs. 2,40,000 per annum

10%

7.5%

194-IA

Payment or transfer of Non -agricultural immovable property

Rs. 50,00,000 & above

1%

0.75%

194-IB

Rent payable by an individual or HUF not liable to tax audit

Rs.50,000 per month

 5% 

3.75%

194-IC

Payment of monetary consideration under Joint Development Agreements

 

10%

7.5%

194J

Fees for Professional / Technical Services

Rs. 30,000 per annum

2% (For Call Centre & Fees for  Technical Services & Royalty  )

10% (For Others)

1.5% (For Call Centre & Fees for  Technical Services & Royalty  )

7.5% (For Others)

194-K

Payment of dividend by mutual funds

 

10%

7.5%

194LA

Compulsory
Acquisition of immovable Property

Rs 2,50,000

10%

7.5%

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%

194LBB(i)

Investment fund paying an income to a unit holder  [other than income which is exempt under Section 10(23FBB)]

 

10% 

Invalid PAN 20%

Non-Resident 30%

Foreign Company 40%

7.5 %

Invalid PAN 20%

Non-Resident 30%

Foreign Company 40%

194LBC(1)

Income in respect of investment made in a securitisation trust

 

Individual/HUF 25%

Other 30%

Foreign Company 40%

Individual/HUF 18.75%

Other 22.5%

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% 

3.75%

194N

TDS on cash withdrawal from Bank, Post office etc.

i) in excess of Rs. 1 crore

2%  

2%  

194N

TDS on cash withdrawal from Bank, Post office etc.

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) 

2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year( from 01/07/2020))

5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year ( from 01/07/2020)

2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year ( from 01/07/2020)

5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year ( from 01/07/2020)

194-O

 

Tds on E-commerce participants

 

  NA

 

0.75% (w.e.f 01.10.2020)

 

 

 

* Only for Debenture in which the public are substantially interested

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

 

TCS Rates

Section

Nature of Payment

Threshold Limit of Payment

01-04-2020 to 13-05-2020

 

New rates from 14-05-2020 to 31-03-2021

 

206C

Scrap

 

1.00%

0.75 %

206C

Tendu Leaves

 

5.00%

3.75%

206C

Timber obtained under a forest lease or other mode

 

2.50%

1.875%

206C 

Any other forest produce not being a Timber or tendu leave

 

2.50%

1.875%

206C

Alcoholic Liquor for Human Consumption

 

1.00%

1.00%

206C

Parking lot, toll plaza, mining & quarrying

 

2.00%

1.5%

206C

Purchase of coal lignite, Iron ore by a trader

 

1.00%

0.75 %

206C

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

Exceeding Rs. 10 Lakhs per transaction

1.00%

0.75 %

206C 

Sale of any other goods

  NA

0.075% (w.e.f 1.10.2020)

 

 

Notes 
Surcharges & Education Cess

Type of Payment

Surcharge

Rate

Health and Education Cess (4.00%)

Salary (Resident & Non- resident)

Upto 50 Lacs

50 Lacs to  1 Crore

> 1 Crore but upto 2 Crore

> 2 crore but upto 5 crore

> 5 crore

Nil

10%

15%

25%

37%

Yes

Yes

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

More than Rs. 50 lakh but up to Rs. 1 crore

More than Rs. 1 crore but upto 2 crore

More than Rs. 2 crore but upto 5 crore

More than Rs. 5 crore

Nil

10%

15%

25%

37%

Yes

Yes

Yes

Yes

Yes

Payments to Foreign Co.

Upto 1cr

> 1 Crore

> 10 Crore

Nil

2%

5%

Yes

Yes

Yes

 

  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

Super Senior Citizen (80 Years)

Rs. 5,00,000

Others

Rs. 2,50,000

Average rate of Tax +  Health & Education Cess (Surcharge if Salary > 50 Lacs)

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)

Rs.1,00,000 per annum

Upto 31-08-2019 : 1%

w.e.f 01-09-2019 : 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(a)

**Rent on Plant / Machinery

Rs. 2,40,000 per annum

2%

194-I(b)

**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(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%

194LBB(i)

Investment fund paying an income to a unit holder  [other than income which is exempt under Section 10(23FBB)]

 

10%

Invalid PAN 20%

Non-Resident 30%

Foreign Company 40%

194LBC(1)

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 Rate

Section

Nature of Payment

Threshold Limit of Payment

01-04-2020 to 13-05-2020

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

Parking 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 
Surcharges & Education Cess

Type of Payment

Surcharge

Rate

Health and Education Cess (4.00%)

Salary (Resident & Non- resident)

Upto 50 Lacs

50 Lacs to  1 Crore

> 1 Crore but upto 2 Crore

> 2 crore but upto 5 crore

> 5 crore

Nil

10%

15%

25%

37%

Yes

Yes

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

More than Rs. 50 lakh but up to Rs. 1 crore

More than Rs. 1 crore but upto 2 crore

More than Rs. 2 crore but upto 5 crore

More than Rs. 5 crore

Nil

10%

15%

25%

37%

Yes

Yes

Yes

Yes

Yes

Payments to Foreign Co.

Upto 1cr

> 1 Crore

> 10 Crore

Nil

2%

5%

Yes

Yes

Yes

 

  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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