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Description
TDS Rate Chart for FY 2021-22
Section
Nature of Payment
192
Salaries
192A
Premature withdrawal from EPF
193
193
194 194A
Interest on securities - 8% Savings (Taxable) Bonds, 2003 or 7.75% Savings (Taxable) Bonds, 2018 during the financial year Interest on securities - Interest on securities for money issued by or on behalf of any local authority/statutory corporation, listed debentures of a company (other than demat form), any other interest on securities Dividends Interest (Banking co., co-operative society engaged in banking, post office)
Interest (Any other person) No TDS on payment of interest by an infrastructure debt fund w.e.f. 01.04.2021 194B Winning from lotteries 194BB Winning from Horse race
Threshold Limit
TDS Rate
-
Slab Rate
50,000
10%
10,000
10%
5,000
10%
5,000
10%
40,000
10%
5,000
10%
10,000 10,000 30,000 for single payment /100,000 for aggregate payment
30% 30%
15,000
5% 10%
100,000
5%
2,500 -
10% 20%
15,000 15,000 240,000
5% 5% 2% 10%
50,00,000
1%
194A
194C
194D
Contractor – Single Payment/ Consolidated -
Individual/HUF
-
Others Other than Company Company
194DA Maturity of Life insurance policy 194EE 194F
NSS Repurchase units by MFs
194G 194H 194I
Commission-Lottery Commission/Brokerage Rent of - Plant/Machinery /Equipment - Land and Building/Furniture & Fixture Transfer of certain immovable property other than agriculture land
194IB
Rent by Individual/HUF
194IC
Payment under Joint Development Agreements to Individual/HUF Professional Fees and Director's fees Technical Fees and Payment to call center operator
194J 194J
2%
Insurance commission -
194IA
1%
50000 per month -
10%
30,000 30,000
10% 2%
TDS Rate Chart for FY 2021-22
Section
194K
194LA 194LB 194LBA
194LBA
194LBB
194LBC
194M 194N 194N
Nature of Payment Payment of any income in respect of (a) units of a mutual fund as per section 10(23D); or (b) the units from the administrator; or (c) units from specified company Compensation on transfer of certain immovable property other than agriculture land Income by way of interest from infrastructure debt fund Income from units of business trust - interest received or receivable from a special purpose vehicle; or - dividend referred to in sub-section (7) of section 115-O Distribution of rental income to unit holders - Other than Company - Company Income in respect of units of investment fund - Other than Company - Company Income in respect of investment in securitization fund - Individual/HUF - Company - Other Person Certain payments by Individual/HUF (REFER NOTE 1) Payment of certain amount in cash Payment of certain amount in cash (first proviso of section 194N) (REFER NOTE 2)
5,000
194Q
TDS Rate
10%
-
10%
250,000
-
-
10%
-
10%
-
10% 10%
-
10% 10%
-
25% 30% 30%
50,00,000 1,00,00,000
-
194-O
Amount is more than Rs.20 lakhs but up to Rs. 1 crore - Amount exceeds Rs. 1 crore Applicable for e-commerce operator for the sale of goods or provision of services facilitated by it through its digital or electronic facility or platform Purchase of Goods by a person (REFER NOTE 3) (w.e.f. 01st July 2021)
Threshold Limit
5% 2%
2% 5% 5,00,000 N.A. 50,00,000
0.1%
NOTE 1: Payment means payment made to resident individual for carrying out any contractual work or providing any professional services in financial year exceeds Rs.50lakhs NOTE 2: In case the individual receiving the money has not filled income tax returns for three years immediately preceding the year
TDS Rate Chart for FY 2021-22
NOTE 3: TDS on purchase of goods (w.e.f. 01.07.2021) •
TDS under this section is only required to be deducted by those person (i.e. buyer) whose total sales or gross receipts or turnover from the business carried on by him exceed Rs. 10 Crores during the financial year immediately preceding the financial year in which the purchase of goods is carried out.
•
Tax is required to be deducted by such person, if the purchase of goods by him from the seller is of the value or aggregate of such value exceeding Rs. 50 Lakhs in the previous year.
NOTE 4: New Section 206AB: Higher rate for deduction of TDS for non-filers of income-tax return (w.e.f . 01.07.2021) •
The specified person is a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years which are immediately before the previous year in which tax is required to be deducted or collected, as the case may be.
•
TDS rate in this section is higher of the followings rates: (i) Twice the rate specified in the relevant provision of the Act; or (ii) Twice the rate or rates in force; or (iii) The rate of five per cent
•
If the provision of section 206AA (Non availability of PAN number) of the Act is applicable to a specified person, in addition to the provision of this section, the tax shall be deducted at higher of the two rates provided in this section and in section 206AA (20%) of the Act.
NOTE 4: Section 194P – Deduction of tax in case of specified senior citizen
• • •
In order to provide relief to senior citizens (Age of 75 years or more), New section inserted to provide relaxation from filling Income tax return if – Senior citizen resident in India, age of 75 years or more during the previous year. He has pension income and no other income He shall furnish declaration to specified bank giving details of deduction allowable under Chapter VI-A and after allowing rebate u/s 87A specified bank deduct income tax on basis of rates in force.
