TDS Rate Chart for FY 2021-2022 PDF

Download PDF of TDS Rate Chart for FY 2021-2022

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TDS Rate Chart for FY 2021-2022

Nirmala Sitharaman, Finance Minister has announced a slew of direct tax measures as part of the Covid-19 relief package on 1st April 2021 by reducing the TDS and TCS rates by 25%. This rate will be applicable till 31st March 2022. TDS means Tax Deduction at Source, it is one of the important compliance for Income Tax Assessee. Finance Minister has made many changes in new TDS/TCS rates, major changes are the New Section of TDS & TCS for Non-Filer of Income Tax Returns (ITR) and TDS on Purchase of Goods w.e.f 01/07/2021. We have also provided the TDS Rate Chart for FY 2021-2022 PDF download link below.

In this article, we have specified various TDS rates applicable for FY 2021-2022 (AY 2022-2023). We have explained various TDS rates based on the nature of payment & its threshold limits for TDS.

TDS Rate Chart For FY 2021-2022

Section Nature of Payment  Threshold  Individual/HUF Others
192 Salary  Taxable Income liable to Tax Normal Slab Rate OR New Tax Regime Slab Rate as opted by employee. OPTION TO CHOOSE BETWEEN NEW AND OLD TAX SLAB REGIME FOR SALARIED EMPLOYEES NA
192A Premature withdrawal from EPF  50,000 10% NA
193 Interest on securities  2,500 10% 10%
194 Dividend  5,000 10% 10%
194A Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit 40000 10% 10%
194A Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit (Payee:Senior Citizen)  50,000 10% NA
194A Interest other than “Interest on securities”(Other Than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit)  5,000 10% 10%
194B Winnings from lotteries, crossword puzzles, card games and other games of any sort 10,000 30% 30%
194BB Winnings from horse races 10,000 30% 30%
194C Payment to contractor/sub-contractor  Single Transaction: 30,000 & Aggregate of Transactions: 1,00,000 1% 2%
194D Insurance commission  15,000 5% 10%
194DA Payment in respect of life insurance policy 1,00,000 1% 1%
194E Payment to non-resident sportsmen/sports association  – 20% 20%
194EE Payment in respect of deposit under National Savings scheme 2,500 10% 10%
194F Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India  – 20% 20%
194G Commission on sale of lottery tickets  15,000 5% 5%
194H Commission or brokerage  15,000 5% 5%
194-I Rent:
194I(a) Rent of Plant & Machinery 2,40,000 2% 2%
194I(b) Rent of Land or building or furniture or fitting 2,40,000 10% 10%
194-IA Payment on transfer of certain immovable property other than agricultural land 50 Lakh 1% 1%
194-IB Payment of rent by individual or HUF not liable to tax audit  50,000 per month 5% NA
194-IC Payment of monetary consideration under Joint Development Agreements  – 10% 10%
194J(a) Fees for  technical services or towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films;  30,000 2% 2%
194J(b) Fees for professional  services  30,000 10.00% 10.00%
194K Income in respect of units payable to resident person  – 10% 10%
194LA Payment of compensation on acquisition of certain immovable property 2,50,000 10% 10%
194LB Payment of interest on infrastructure debt fund to Non Resident  – 5% 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% 10%
194LBB Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)]  – 10% 10%
194LBC Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) 25% 30%
194M Payment of commission ( to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J.  50 Lakh 5% 5%
194N Cash withdrawal 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:in excess of 1 Crore  1 Crore 2% 2%
194-O Payment or credit of amount by the e-commerce operator to e-commerce participant  5 Lakh 1% 1%

 

 

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