Article explains Popular TDS/ TCS Sections and Rates as applicable for Financial Year (FY) 2021-22. From 01st April 2021 TDS/TCS Rates will be normal and Concessional rate will not be applicable.

TDS RATES APPLICABLE FOR FINANCIAL YEAR 2021-22

Section Section Name Applicable To Limit TDS Rate
194 Dividend All Companies 5000 10%
194A Interest on Deposits/ Loans (Other than Bank) ALL Co,/LLP/FIRM   and INDI/HUF TO > 1 CR 5000 10%
194C Payment to contractor/sub-contractor: ALL Co,/LLP/FIRM   and Individual /HUF TO > 1 CR Single Transaction: 30,000 & Aggregate of Transactions: 1,00,000
a) HUF/ Individuals 1%
b) Others 2%
194H Commission or brokerage ALL Co,/LLP/FIRM   and Individual /HUF TO > 1 CR 15000 5%
194-I Rent: ALL Co,/LLP/FIRM   and Individual /HUF TO > 1 CR
194-I(a) Plant & Machinery 240000 2%
194-I(b) Land or building or furniture or fitting 240000 10%
194-IA Payment on transfer of certain immovable property other than agricultural land If Value is higher than 50 lacs 50 Lakh 1%
194J Fees for professional or technical services: ALL Co,/LLP/FIRM   and Individual /HUF TO > 1 CR
i) sum paid or payable towards fees for technical services  30,000 2.00%
ii) sum paid or payable towards Professional Fees  30,000 10.00%
194Q purchase of goods ( Applicable from 1-7-2021 All Assessee having TO > 10 cr  and 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. 0.1%
194A Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit to senior Citizen Banks / Post-office 50000 10%
Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit to Other than Senior Citizen 40000 10%
192 Salary ALL If  Taxable Income more than 2.5 lacs

TCS RATES APPLICABLE FOR FINANCIAL YEAR 2021-22

Section Section Name Applicable To Limit TCS Rate
206C(1H) Sale of Goods All Assessee having TO > 10 cr  and if the Sale of goods by him to any buyer is of the value or aggregate of such value exceeding Rs. 50 Lakhs in the previous year. 0.1%
206C(1) Sale of Any Scrap ALL Co,/LLP/FIRM   and INDI/HUF TO > 1 CR no limit.. All scrap sale 1%
206C(1F) Motor Vehicle (any mode of payment) Seller, who receives any amount as consideration for sale of a motor vehicle of the value exceeding Rs. 10 lacs 1%
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