SANTOSH B. GUPTA & CO.

CHARTERED ACCOUNTANTS
 
     
   
 
TDS

TDS / TCS RATES FOR F.Y.2021-22

Section Nature of Payment Threshold Limit of Payment Rates
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) Or, Option to choose between New and Old Tax Slab Regime for Salaried Employees
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)
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
Individual/HUF 1%
Others 2% 
194D Insurance Commision Rs. 15,000
Resident:5%
Domestic Company:10%
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
2% (For Call Centre & Fees for Technical Services & Royalty)
10% (For Others)
194K Income in respect of units of Mutual funds or specified company Rs. 5,000 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  
Individual or HUF 25%
Other 30%
 
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) 
2% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 20 lakhs during the previous year
5% from the amount withdrawn in cash if the aggregate of the amount of withdrawal exceeds Rs. 1 crore during the previous year 
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)
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

 

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.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   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 Rs.1,00,000 per annum
Upto 31-08-2019 : 1 %
w.e.f 01-09-2019 : 5%
 
3.75%
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
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 Income in respect of units of Mutual funds or specified company  Rs. 5,000 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  
Individual/HUF 25%
Other 30%
 
Individual/HUF 18.75%
Other 22.5%
 
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) 
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

 

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)
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

 

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 Rates
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 Rs.1,00,000 per annum
Upto 31-08-2019 : 1%
w.e.f 01-09-2019 : 5%
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) **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
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%
194LBC(1) Income in respect of investment made in a securitisation trust  
Individual or HUF 25%
Other 30%
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)
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

 

 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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