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)
| Section | Particulars | Rate of TDS deduction for Individual , HUF and other then a company | Rate of TDS deduction for comapny. |
| 192 | Salary | Normal slab rate | – |
| 192A | Payment of accumulated balance of provident fund which is taxable in the hands of an employee. | 10 | – |
| 193 | Interest on Securities | 10 | 10* |
| 194 | Dividend (Monetary Limit- ₹5000) 10 (w.e.f 01.04.202 |
10 (w.e.f 01.04.2020) | 10* (w.e.f 01.04.2020) |
| 194A | Income by way of interest other than “Interest on securities” ( Limit – ₹40,000) |
10 | 10 |
| 194B | Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort ( Limit – ₹10,000) |
30 | 30 |
| 194BB | Income by way of winnings from horse races ( Limit – ₹10,000) |
30 | 30 |
| 194C | A 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 |
| 194D | Insurance commission (Limit – ₹15,000) |
5 | 10 |
| 194DA | Payment 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) |
5 | 5 |
| 194E | Payment to non-resident sportsmen/sports association | 20* | 20* |
| 194EE | Payment in respect of deposit under National Savings scheme | 10 | 10 |
| 194F | Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India | 20 | 20 |
| 194G | Commission, etc., on sale of lottery tickets | 5 | 5 |
| 194H | Commission or brokerage ( Limit – ₹15,000) |
5 | 5 |
| 194-I | Rent ( 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-IA | Payment on transfer of certain immovable property other than agricultural land ( Limit – if consideration exceeding ₹50,00,000) | 1 | 1 |
| 194-IB | A 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 | – |
| 194J | A 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) |
| 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. | 5 | 5 |
| 194N | Cash withdrawal above ₹1 crore during the previous year from one or more account maintained by a person with any bank | 2 | 2 |
| 194-O | E-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 |