TDS Rate Applicable for FY 2021-22 or AY 2022-23

Section Nature of Payment Threshold TDS Rate Remarks
192 Salary  Taxable Income liable to Tax Normal Slab Rate

(or)

New Tax Regime Slab Rate as opted by employee

Refer Note 4 & 5 for Old & New Regime Slab Rates

OPTION TO CHOOSE BETWEEN NEW AND OLD TAX SLAB REGIME FOR SALARIED EMPLOYEES

192A Payment of accumulated balance of provident fund which is taxable in the hands of an employee.  50,000 10%  –
193 Interest on securities  2,500 10%  –
194 Dividend  5,000 10% Budget 2021 Update

This amendment proposes to amend second proviso to section 194 of the Act to further provide that the provisions of section 194 i.e. TDS on dividend shall also not apply to dividend income credited or paid to a business trust by a special purpose vehicle or payment of dividend to any other person as may be notified.

This means that no TDS needs to be deducted to AIF Category III also.

194A Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit

(Interest other than “Interest on securities” )

a) Senior Citizen  50,000 10%  –
b) Others  40,000 10%  –
194A Interest other than “Interest on securities”

(Other Than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit)

 5,000 10%  –
194B Winnings from lotteries, crossword puzzles, card games and other games of any sort 10,000 30%  –
194BB Winnings from horse races 10,000 30%  –
194C Payment to contractor/sub-contractor:  Single Transaction: 30,000 & Aggregate of Transactions: 1,00,000  –
a) HUF/ Individuals 1%  –
b) Others 2%  –
194D Insurance commission
a) Individuals  15,000 5%  –
b) Companies  15,000 10%  –
194DA Payment in respect of life insurance policy, the tax shall be deducted on the amount of income comprised in insurance pay-out 1,00,000 5%  –
194E Payment to non-resident sportsmen/sports association  – 20% The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
194EE Payment in respect of deposit under National Savings scheme 2,500 10%  –
194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India  – 20%  –
194G Commission on sale of lottery tickets  15,000 5%  –
194H Commission or brokerage  15,000 5%  –
194-I Rent:
194-I(a) Plant & Machinery 2,40,000 2%  –
194-I(b) Land or building or furniture or fitting 2,40,000 10%  –
194-IA Payment on transfer of certain immovable property other than agricultural land 50 Lakh 1%  –
194-IB Payment of rent by individual or HUF not liable to tax audit  50,000 per month 5%  –
194-IC Payment of monetary consideration under Joint Development Agreements  – 10%  –
194J Fees for professional or technical services:
i) sum paid or payable towards fees for technical services  30,000 2%  –
ii) sum paid or payable towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;  30,000 2%  –
iii) Any other sum  30,000 10%  –
194K Income in respect of units payable to resident person  – 10%  –
194LA Payment of compensation on acquisition of certain immovable property 2,50,000 10%  –
194LB Payment of interest on infrastructure debt fund to Non Resident  – 5% The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
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 Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]  – 10%  –
194LBC Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA)
a) HUF/Individuals  – 25%  –
b) Others  – 30%  –
194M 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.  50 Lakh 5%  –
194N Cash withdrawal 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:
i) in excess of Rs. 1 crore  1 Crore 2%  –
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) On amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year;  20 Lakh 2%  –
b) On amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year;  1 Crore 5%  –
194-O Payment or credit of amount by the e-commerce operator to e-commerce participant  5 Lakh 1%  –
194Q Purchase of goods (applicable w.e.f 01.07.2021) 50 Lakh 0.10% Budget 2021 Update

A new section 194Q is proposed to be inserted to provide for deduction of TDS by person responsible for paying any sum to any resident for purchase of goods @ 0.1%.

Refer Note 1 for details about this amendment

195 Payment of any other sum to a Non-resident The rate of TDS shall be increased by applicable surcharge and Health & Education cess.
a) Income in respect of investment made by a Non-resident Indian Citizen  – 20%  –
b) Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen  – 10%  –
c) Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112  – 10%  –
d) Income by way of long-term capital gains as referred to in Section 112A  – 10%  –
e) Income by way of short-term capital gains referred to in Section 111A  – 15%  –
f) Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A  – 20%  –
g) Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC)  – 20%  –
h) Any other Income  – 30%  –
206AB TDS on non-filers of ITR at higher rates

(applicable w.e.f 01.07.2021)

Refer Note 2 Refer Note 2 Budget 2021 Update Refer Note 2
194P TDS on Senior Citizen above 75 Years Refer Note 3 Refer Note 3 Budget 2021 Update Refer Note 3

News Section

News

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
30 Sep 21 Payment of disputed amount of tax WITHOUT Additional Payment under Vivad se Vishwas Scheme.
30 Sep 21 Deposit of TDS u/s 194M for August on payments made to resident contractors or professionals greater than 50 lacs pa by individuals/HUF not subject to tax audit.
30 Sep 21 Investment etc. for claiming exemption u/s 54 to 54GB where last date for such compliance falls between 1.4.21 to 29.9.21.
30 Sep 21 Deposit of TDS u/s 194-IA on payment made for purchase of property in August.
30 Sep 21 Application for KYC of Directors who hold DIN on 31.3.21.
30 Sep 21 Filing of application for revocation of cancellation of registration where the due date of filing of application for revocation of cancellation of registration falls between 01.03.2020 to 31.08.2021.
01 Oct 21 Dynamic QR Code must on B2C Invoices for turnover above 500 cr. Penalty to be levied from 1.12.20 if not ready by 1.10.21.
06 Oct 21 Monthly Return by Tax Deductors for May.
06 Oct 21 Monthly Return by e-commerce operators for May.
14 Oct 21 Intimation of appointment of Auditor on completion of 5 years to be given in 15 days of AGM. (Presuming AGM on 30.9.21)
31 Oct 21 Payment of disputed amount of tax without additional payment under Vivad se Vishwas Scheme .
06 Nov 21 Monthly return of Outward Supplies for May. (other than QRMP)
30 Nov 21 Last date to hold AGM for FY 20-21. (Extended from 30 Sep)
30 Nov 21 Statement of foreign remittances by authorized dealers for June quarter.
30 Nov 21 Uploading declarations received in Form. 15G/15H during quarter ending June.
30 Nov 21 Filing of pending GST-3B Returns from July 2017 to April 2021 with reduced late fee under Amnesty scheme.
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