TDS rate chart and due dates for the financial year 2020-21

TDS rate chart and due dates for the financial year 2020-21

Due to corona ( Covid-19) TDS rate reduced by 25%

According the provision of section 190 Income Tax 1961 notwithstanding that the regular assessment in respect of any income is to be made in later assessment year the tax on such income shall be payable by deduction or collection at source of income.

TDS rate chart are and Due date are useful while deduction TDS

Tax deducted at source of income.

A deductor is a person( like Individual,HUF, Firm, society,trust ) or company responsible to deduct TDS before making any payment and

A deductee is a person ( like Individual,HUF, Firm, society,trust ) or company receiving the payment. It is deducted regardless of the mode of payment, be it NEFT, RTGS, cheque or cash or other mode of payment, and linked to the PAN of the deductor and deductee.

Tax deducted at source on income.

TDS rate for A.Y 2021-22 (F. Y 2020-21)

SectionParticularsRate of TDS deduction for Individual , HUF and other then a companyRate of TDS deduction for comapny.
192SalaryNormal slab rate
192APayment of accumulated balance of provident fund which is taxable in the hands of an employee.10
193Interest on Securities1010*
194Dividend
(Monetary Limit- ₹5000)
10 (w.e.f 01.04.202
10 (w.e.f 01.04.2020)10* (w.e.f 01.04.2020)
194AIncome by way of interest other than “Interest on securities”
( Limit – ₹40,000)
1010
194BIncome by way of winnings from lotteries, crossword puzzles, card games and other games of any sort
( Limit – ₹10,000)
3030
194BBIncome by way of winnings from horse races
( Limit – ₹10,000)
3030
194CA Payment to contractor/ sub-contractor
(Monetary Limit – ₹30,000 for single payment or ₹1,00,000 for aggregate amount during the year)
1. To HUF/Individuals 1
2.  Others 2
1. To HUF/Individuals 1
2.  Others 2
194DInsurance commission
(Limit – ₹15,000)
510
194DAPayment in respect of life insurance policy w.e.f. 1/9/2019, the tax shall be deducted on the amount of income comprised in insurance pay-out
(Limit – ₹1,00,000)
55
194EPayment to non-resident sportsmen/sports association20*20*
194EEPayment in respect of deposit under National Savings scheme1010
194FPayment on account of repurchase of unit by Mutual Fund or Unit Trust of India2020
194GCommission, etc., on sale of lottery tickets55
194HCommission or brokerage
( Limit – ₹15,000)
55
194-IRent
( Limit – ₹2,40,000)
1. Plant &Machinery 2
 2.Land or building or furniture or fitting 10

1. Plant &Machinery 2
 2.Land or building or furniture or fitting 10
194-IAPayment on transfer of certain immovable property other than agricultural land ( Limit – if consideration exceeding ₹50,00,000)11

194-IBA Payment of rent by individual or HUF not liable to a tax audit
( Limit – Rent for the month or part of the month exceeds ₹50,000)
5
194JA Payment for fees for Technical services, Professional services or royalty etc. ( Limit – ₹30,000 p.a)1. Fee for technical services  or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films 2

(w.e.f. 01.04.2020)
2. Call centre 2
3. Others 10
1. Fee for technical services  or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films 2

(w.e.f. 01.04.2020)
2.Call centre
3.Others 10
194K

Payment of any income in respect of
Units of a Mutual Fund ( Limit -₹5,000)
10 ( w.e.f 1.4.2020)10 ( w.e.f 1.4.2020)
194MPayment 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.55
194NCash withdrawal above ₹1 crore during the previous year from one or more account maintained by a person with any bank22
194-OE-commerce operator for provided sale of goods platform.1 ( w.e.f 1.4.2020)1 ( w.e.f 1.4.2020)

Section 195 Payment of any other sum to a Non-resident for Royalty and technical fee 10% and any other income 40%  on payment to foreign company ,30% to others.

 

Due dares for  Tax deducted at  source.

S. No.

Month of Payment

 Due dates for  TDS payment

1

April

on or before 7th May

2

May

on or before 7th June

3

June

on or before 7th July

4

July

on or before 7th August

5

August

on or before 7th September

6

September

on or before 7th October

7

October

on or before 7th  November

8

November

on or before 7th December

9

December

on or before 7th January

10

January

on or before 7th February

11

February

on or before 7th March

12

March

on or before 7th April

Due dates for filing TDS return for all deductors

S. No.

Period (quarter)

Due dates for filing TDS return

1.

April. May, June

31st July

2.

July,August,September

31 st October

3.

October,November, December

31st January,

4.

January,February,March

31st May

 

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