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TDS Rate Chart for Financial Year 2019-20 / Financial Year 2020-21 or Say TDS Rate Chart for Assessment Year 2020-21 / Assessment Year 2021-22. Article explains Nature of Payment on which TDS is dedutible, Rate of TDS Deductible, Threshold limit for TDS Deduction, TDS Rate if deductee is Individual, TDS Rate if deductee is Other than Individual/ HUF and Rate of TDS dedctible if deductee not furnishes PAN or PAN Submitted by deductee is Invalid.
TDS Rate Chart for Financial Year 2019-20/Assessment Year 2020-21
| Sl. No. | Nature of Payment | Section | Basic Cut-off (Rs.) p.a. | TDS rate for | ||
| Individual and HUF | Other than Individual/ HUF | If PAN is not submitted/ Invalid PAN | ||||
| 1 | Payment of Salaries by Employers | 192 | Slab rate | Slab rate | Not applicable | 30% |
| 2 | Premature payment by PF Organization from EPF A/c (i.e. before 5 Years). | 192A | 50,000.00 | 10% | Not applicable | 20% |
| 3 | Payment of Interest on Securities by company. | 193 | 10,000.00 | 10% | 10% | 20% |
| 4 | Payment of Dividend other than dividend as referred to Section 115O by company (i.e. Dividend on which Dividend Distribution Tax is not paid) | 194 | 2,500.00 | 10% | 10% | 20% |
| 5 | Payment of Interest by bank | 194A | 40,000.00 (Non Sr.Citizen) 50,000.00 (Sr. Citizen) | 10% | 10% | 20% |
|
6 |
Payment of Interest by others | 194A | 5,000.00 | 10% | 10% | 20% |
| 7 | Payment of prize from Wining from Lotteries by any person. | 194B | 10,000.00 | 30% | 30% | 30% |
| 8 | Payment of prize from Wining from Horse Race by any person. | 194B | 10,000.00 | 30% | 30% | 30% |
| 9 | Payment to Contractors by any person. | 194C | 30,000.00 (Single bill) or 1 Lakh aggregate bills during the year. | 1% | 2% | 20% |
| 10 | Payment to Transporter Covered u/s. 44E and submit declaration in prescribed format. (i.e. owning less than 10 goods carriages) | 194C | • | 0 | 0 | 20% |
| 11 | Payment to Transporter not covered u/s. 44E
(i.e. owning more than 10 goods carriages) |
194C | 30,000.00 (Single bill ) or 75,000.00 aggregate bills during the year. | 1% | 2% | 20% |
|
12 |
Payment of Insurance Commission to agents by Insurance Company. | 194D | 15,000.00 | 5% | 10% | 20% |
| 13 | Payment in respect of maturity of Life Insurance Policy by Life Insurance Company. | 194DA | 1 Lakh | 1% | 1% | 20% |
| 14 | Payment to NRI sportsman or association by any person or organization | 194E | • | 20% | 20% | 20% |
| 15 | Payment out of deposit under National Saving Scheme (NSS) | 194EE | 2,500.00 | 10% | 10% | 20% |
| 16 | Payment with respect to repurchase of units by Mutual Fund Companies. | 194F | • | 20% | 20% | 20% |
| 17 | Payment of Lottery Commission | 194G | 15,000.00 | 5% | 5% | 20% |
| 18 | Payment of commission or Brokerage | 194H | 15,000.00 | 5% | 5% | 20% |
|
19 |
Payment of rent on land, building, furniture and fittings. | 194I | 240,000.00 | 10% | 10% | 20% |
| 20 | Payment of rent on plant, machinery or equipments. | 194I | 240,000.00 | 2% | 2% | 20% |
| 21 | Payment made on account of transfer of immovable property other than agriculture land. | 194IA | 50 Lakh | 1% | 1% | 20% |
| 22 | Rent payable by individual not covered u/s. 194I for land, building, furniture and fittings | 194IB | 50,000.00 PM | 5% | 5% | 20% |
|
23 |
Payment of Professional Fees other than call centers |
194J |
30,000.00 |
10% |
10% |
20% |
|
24 |
Payment of Professional Fees to call centers. |
194J |
30,000.00 |
2% |
2% |
20% |
|
25 |
Compensation on transfer of certain immoveable property than Agriculture Land |
194LA |
250,000.00 |
10% |
10% |
20% |
TDS Rate Chart For Financial Year 2020-21 and Assessment Year 2021-22:
| Section | Particulars | TDS Rate Individual/ HUF (Indian Resident)(in %) | TDS Rate for (NRI) in India (in %) | Domestic Company (in %) | Other than domestic Company (in %) |
| 192 | Payment of salary | Normal Slab Rate | Normal Slab Rate | – | – |
| 192A | Payment of accumulated balance of Provident fund which is taxable in the hands of an employee. Monetary Limit – Rs. 50,000 | 10 | 10.40 | – | – |
| 193 | Interest on Securities | – | – | ||
| a. | any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; | 10 | – | 10 | – |
| b. | debentures issued by a company where such debentures are listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; | 10 | – | 10 | – |
| c. | any security of the Central or State Government;
(Monetary Limit – Rs 10,000) |
10 | – | 10 | – |
| d. | interest on any other security | 10 | – | 10 | – |
| 194 | Dividend (monetary limit- Rs 5000) | – | – | 10
(W.e.f. 01.04.2020) |
– |
| 194A | An Income by way of interest other than “Interest on securities”
(Monetary Limit – Rs 40,000) |
10 | – | 10 | – |
| 194B | Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort (Monetary Limit – Rs 10,000) | 30 | 31.20 | 30 | 31.20 |
| 194BB | Income by way of winnings from horse races (Monetary Limit – Rs 10,000) | 30 | 31.20 | 30 | 31.20 |
| 194C | A Payment to contractor/sub-contractor (Monetary Limit – Rs 30,000 per contract or Rs 1,00,000 for aggregate amount during the year) | ||||
| a. | HUF/Individuals | 1 | – | 1 | – |
| b. | Others | 2 | – | 2 | – |
| 194D | Insurance commission
(Monetary Limit – Rs 15,000) |
5 | – | 10 | – |
| 194DA | A 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
(Monetary Limit – Rs 1,00,000) |
5 | – | 5 | – |
| 194E | Payment to non-resident sportsmen / sports association | – | 20.80 | – | 20.80 |
| 194EE | A Payment in respect of deposit under National Savings scheme
(Monetary Limit – Rs 2,500) |
10 | 10.40 | 10 | – |
| 194F | Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India | 20 | 20.80 | 20 | – |
| 194G | Commission, etc., on sale of lottery tickets
(Monetary Limit – Rs 15,000) |
5 | 5.20 | 5 | 5.20 |
| 194H | Commission or brokerage
(Monetary Limit – Rs 15,000) |
5 | – | 5 | – |
| 194-I | Rent
(Monetary Limit – Rs 2,40,000) |
||||
| a. Plant & Machinery | 2 | – | 2 | – | |
| b. Land or building or furniture or fitting | 10 | – | 10 | – | |
| 194-IA | Payment on transfer of certain immovable property other than agricultural land
(Monetary Limit – Consideration exceeding Rs 50,00,000) |
1 | – | 1 | – |
| 194-IB | A Payment of rent by individual or HUF not liable to tax audit
(Monetary Limit – Rent for the month or part of the month exceeds Rs 50,000) |
5 | – | – | – |
| 194-IC | Payment of monetary consideration under Joint Development Agreements | 10 | – | 10 | – |
| 194J | A Payment for fees for Technical services, Professional services or royalty etc.
(Monetary Limit –Rs 30,000 p.a) |
||||
| a. | Fee for technical services | 2
(w.e.f. 01.04.2020) |
– | 2
(w.e.f. 01.04.2020) |
– |
| b. | Fee in other all cases as per Section 194J | 10 | – | 10 | – |
| 194K | Payment of any income in respect of:
a) Units of a Mutual Fund as per Section 10(23D) b) The Units from the administrator c) Units from specified company |
10
(W.e.f 01/04/2020) |
– | 10 | – |
| 194LA | A Payment of compensation on acquisition of certain immovable property
(Monetary Limit –Rs 2,50,000 p.a.) |
10 | – | 10 | – |
| 194LB | Payment of interest on infrastructure debt fund | – | 5.20 | 5.20 | |
| 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 | – | 10 | – |
| 194LBA(2) | A Business trust shall deduct tax while distributing any interest income received or receivable by it from a SPV to its unit holders. | – | 5.20 | – | 5.20 |
| 194LBA(3) | Business trust shall deduct tax while distributing any income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holders. | – | 31.20 | – | 41.6 |
| 194LBB | Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] | 10 | 31.20 | 10 | 41.6 |
| 194LBC | Income in respect of investment made in a securitisation trust (specified in Explanation of section 115 TCA) | 25% in case of Individual or HUF 30% in case of other resident person | 31.20 | 10 | 41.6 |
| 194LC | Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)
Note: Now TDS at concessional rate of 5% will be applicable for borrowings made after April 1, 2020 but before July 1, 2023. |
– | 5.20 | – | 5.20 |
| 194LD | A Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor
Note: Now TDS at concessional rate of 5% will be applicable for borrowings made after April 1, 2020 but before July 1, 2023. |
– | 5.20 | – | 5.20 |
| 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 in excess of Rs. 1 crore during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office | 2 | – | 2 | – |
| 194-O | Applicable for E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform. | 1
(w.e.f. 01.04.2020) |
– | 1
(w.e.f. 01.04.2020) |
– |
| 195 | Payment of any other sum to a Non-resident | ||||
| a. | An Income in respect of investment made by a Non-resident Indian Citizen | – | 20.80 | – | – |
| b. | Income by way of long-term capital gains referred to in Section 115E in case of a Non-resident Indian Citizen | – | 10.40 | – | |
| c. | An Income by way of long-term capital gains referred to in sub-clause (iii) of clause (c) of sub-Section (1) of Section 112 | – | 10.40 | – | 10.40 |
| d. | Income by way of long-term capital gains as referred to in Section 112A | – | 10.40 | – | 10.40 |
| e. | An Income by way of short-term capital gains referred to in Section 111A | – | 15.60 | – | 15.60 |
| f. | Any other income by way of long-term capital gains [not being long-term capital gains referred to in clauses 10(33), 10(36) and 112A | – | 20.80 | – | 20.80 |
| g. | Income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in Section 194LB or Section 194LC) | – | 20.80 | 20.80 | |
| h. | The Income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the first proviso to sub-section (1A) of Section 115A of the Income-tax Act, to the Indian concern, or in respect of any computer software referred to in the second proviso to sub-section (1A) of Section 115A of the Income-tax Act, to a person resident in India | – | 10.40 | – | 10.40 |
| i. | Income by way of royalty [not being royalty of the nature referred to point g) above E] payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | – | 10.40 | – | – |
| A) Where the agreement is made after the 31st day of march,1961 but before 1st April 1976 | – | – | – | 52 | |
| B) Where the agreement is made after the 31st March, 1976 | – | – | – | 10.40 | |
| j | Income by way of fees for technical services payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and where such agreement is with an Indian concern, the agreement is approved by the Central Government or where it relates to a matter included in the industrial policy, for the time being in force, of the Government of India, the agreement is in accordance with that policy | – | 10.40 | – | – |
| A) Where the agreement is made after the 29th February 1964 but before 1st April 1976 | – | – | – | 52 | |
| B) Where the agreement is made after the 31st March, 1976 | – | – | – | 10.40 | |
| k. | Any other income | – | 31.20 | – | 41.60 |
| 196B | Income from units (including long-term capital gain on transfer of such units) to an offshore fund | – | 10.40 | – | 10.40 |
| 196C | The Income from foreign currency bonds or GDR of an Indian company (including long-term capital gain on transfer of such bonds or GDR) | – | 10.40 | – | 10.40 |
| 196D | Income of foreign Institutional Investors from securities (not being dividend or capital gain arising from such securities) | – | 20.80 | – | 20.80 |
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Author Bio
Does it take into consideration of those who wish to migrate to “NEW REGIME”/
Please mail new tds chart for f.y 2019-20
Thanks.
I understand that individuals and Hufs are not required to deduct TDS.
Kindly clarify.
Regards
Can an organization take any tax regime as standard to deduct TDS of its employees
Very advantageous and thankful.