TDS / TCS RATES FOR F.Y.2021-22
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||||||
| 192 | Income from Salary |
|
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) Or,
Option to choose between New and Old Tax Slab Regime for Salaried Employees |
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| 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 | Rs. 5,000 | 10%
(Tds shall not be deducted on Dividend paid or credited to Business trust by Special Purpose Vehicle or any other person as may be specified) |
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| 194A | Interest from a Banking Company | Rs. 40,000 per annum for Others /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 |
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| 194D | Insurance Commision | Rs. 15,000 |
|
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| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum | 5% | ||||||
| 194EE | Out of deposit under NSS | Rs.2,500 | 10% | ||||||
| 194F | Payment on account of repurchase of units 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 of Plant / Machinery | Rs. 2,40,000 per annum | 2% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | 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 / Royalty / Remuneration to director | Rs. 30,000 per annum |
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| 194K | Income in respect of units of Mutual funds or specified company | 10% | |||||||
| 194LA | Compensation on 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 | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | 10% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
|
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| 194M | TDS on payment to resident contractors and professionals or by way of commission / brokerage (other than those who covered u/s 194C or 194J) by individual/HUF not liable for tax audit. | Rs. 50 lacs | 5% | ||||||
| 194N | TDS on cash withdrawal from Bank, Post office etc. | i) in excess of Rs. 1 crore | 2% | ||||||
| 194N | TDS on cash withdrawal from Bank / Co-operative 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) |
|
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| 194-O | Tds on E-commerce participants | 5 Lakh | 1% | ||||||
| 194P | TDS on Senior Citizen above 75 Years | NOTE-1 | As per Rates in force | ||||||
| 194Q | Purchase of goods (w.e.f 01.07.2021) | 50 Lakh | 0.10% |
| * Only for Debenture in which the public are substantially interested |
| ** Other than Individual or HUF except those covered u/s 44AB |
| Note – |
| In case of non availibility of PAN :- TDS shall be at the rate specified or rate of 20% whichever is higher |
| TDS on Non-Filers of ITR under section 206AB (applicable w.e.f 01.07.2021) |
| In case of PAN | Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of 5% |
| In case of non availability of PAN | Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. Twice the rate or rates in force; or 3. At the rate of twenty percent |
| NOTE-1 Following conditions needs to be satisfied- 1. The senior citizen is resident in India and of the age of 75 years or more during the previous year; 2. He has only pension income and may also have interest income from the same bank (specified bank – to be notified by the CG) in which he is receiving his pension income; 3. He shall be required to furnish a declaration to the specified bank. The declaration shall be containing such particulars, in such form and verified in such manner, as may be prescribed. 4.Specified bank would be required to compute income after giving effect to deductions allowable under Chapter VI-A and rebate under section 87A and deduct Income Tax on the base of rates in force. Once all done, there will not be requirement of furnishing return of income for this assessment year |
| TCS Rates |
| Section | Nature of Payment | Threshold Limit of Payment | Rates |
| 206C (1) | Sale of Scrap | 1.00% | |
| 206C (1) | Sale of Tendu Leaves | 5.00% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.00% | |
| 206C | Sale of Indian made for foreign liquor | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.00% | |
| 206C (1) | Sale of Minerals,coal lignite, Iron ore by a trader | 1.00% | |
| 206C (1F) | Sale Value of Motor vehicle whether in cheque or in any other mode of receipt | Exceeding Rs. 10 Lakhs per transaction | 1.00% |
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in a financial year if remitted amount is out of loan obtained from any financial institution u/s 80E for the purpose of pursuing any education | 0.5% (applicable from 01.10.2020) | |
| 206C | Foreign remittance through Liberalised Remittance Scheme (LRS) of exceeding Rs. 7 Lakh in any other case | 5% (applicable from 01.10.2020) | |
| 206C | Selling of overseas tour package | 5% (applicable from 01.10.2020) | |
| 206C | Sale of goods (Other than those being exported) of value exceeding Rs. 50 Lakh in previous year whose total Sale/ gross receipts / turnover from business exceeds Rs 10 Crore during immediately financial year | Rs. 50 Lakhs | 0.1% (applicable from 01.10.2020) |
| Note: – | |
| In case of non availability of PAN :- | Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| TCS on Non-Filers of ITR under section 206CCA (applicable w.e.f 01.07.2021) | Higher of the following rates :- 1. Twice the rate specified in the relevant provision of the Act; or 2. At the rate of 5% |
| Notes |
| Surcharges & Education Cess |
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) | |||||||||||||||
| Salary (Residents) |
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| Other Payments to Residents |
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| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
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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 |
|
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 | 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 |
|
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| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum |
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| 194EE | Out of deposit under NSS | Rs.2,500 | 10% | 7.5% | ||||||
| 194F | Payment on account of repurchase of units 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 of Plant / Machinery | Rs. 2,40,000 per annum | 2% | 1.5% | ||||||
| 194-I(b) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | 7.5% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | 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 / Royalty / Remuneration to director | Rs. 30,000 per annum |
|
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| 194-K | Income in respect of units of Mutual funds or specified company | 10% | 7.5% | |||||||
| 194LA | Compensation on 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 | Payment in respect of units of Investment funds u/s 115UB [other than income which is exempt under Section 10(23FBB)] | 10% | 7.5% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
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| 194M | TDS on payment to resident contractors and professionals or by way of commission / brokerage (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) |
|
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| 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 |
| Note – |
| In case of non availibility of PAN :- Tds shall be at the rate specified or at the rate of 20% whichever is higher |
| 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 (1) | Sale of Scrap | 1.00% | 0.75% | |
| 206C (1) | Sale of Tendu Leaves | 5.00% | 3.75% | |
| 206C (1) | Sale of Timber obtained under a forest lease or other mode | 2.50% | 1.875% | |
| 206C (1) | Sale of Any other forest produce not being a Timber or tendu leaves | 2.50% | 1.875% | |
| 206C (1) | Sale of Alcoholic Liquor for Human Consumption | 1.00% | 1.00% | |
| 206C | Sale of Indian made for foreign liquor | 1.00% | 1.00% | |
| 206C (1C) | Lease or license of Parking lot, toll plaza, mining & quarrying | 2.00% | 1.5% | |
| 206C (1) | Sale of Minerals, coal lignite, Iron ore by a trader | 1.00% | 0.75% | |
| 206C (1F) | 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% |
| Notes |
| Surcharges & Education Cess |
| Type of Payment | Surcharge | Rate | Health and Education Cess (4.00%) | |||||||||||||||
| Salary (Residents) |
|
|
|
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| Other Payments to Residents | No | Nil | No |
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
|
TDS / TCS RATES FOR F.Y.2019-20
| Section | Nature of Payment | Threshold Limit of Payment | Rates | ||||||
| 192 | Income from Salary |
|
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 |
|
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| 194DA | Payment under life insurance policy | Rs.1,00,000 per annum |
|
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| 194EE | Out of deposit under NSS | Rs.2,500 |
|
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| 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) | **Rent of Land or building or furniture or fitting | Rs. 2,40,000 per annum | 10% | ||||||
| 194-IA | Payment or transfer of immovable property (other than rural agriculture land) | 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 |
|
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| 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% | |||||||
| 194LBC(1) | Income in respect of investment made in a securitisation trust |
|
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| 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 |
| Note – |
| In case of non availibility of PAN :- Tds shall be at the rate specified or at the rate of 20% whichever is higher |
| TCS Rate |
| Section | Nature of Payment | Threshold Limit of Payment | 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 | Indian made Foreign liquor | 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 (Residents) |
|
|
|
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| Other Payments to Residents | No | Nil | No |
| Interest for failure to deduct tax at source/delay in payment of TDS | ||||||
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