TDS Rate Chart for the Financial Year (FY) -2019-2020 / TDS Rate Chart for the Assessment Year (AY) -2020-2021. Article Prescribes Nature of Payment on which TDS is deductible, Section under which TDS is deductible, Basic amount per annum on which TDS is not deductible, TDS rate if PAN is not deductible. TDS rates are bifurcated in TDS rate for Individual and HUF and TDS rate for Other than Individual/ HUF.

Si. 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%
  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 1150 by company
(i.e. Dividend on which
Dividend Distribution Tax is
notpaid)
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
ororganization
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. 1941 240,000.00 10% 10% 20%
20 Payment of rent on plant, machinery or equipments. 1941 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. 1941 for land,
building, furniture and fittings
1941B 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%

Source- ICMAI

More Under Income Tax

2 Comments

  1. Mansi Shah says:

    As per above article TDS on Payments made to transporter not covered under section 44AE is to be deducted if single bill exceed Rs. 30,000/- or Aggregate Bill Amount during the F.Y. exceeds 75,000/-. However, as per section 194C threshold limit for aggregate Bill amount is Rs. 1,00,000/- for all contractors incl transporter. Please provide back up material where this change is notified.

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