1. Tentative rates of TDS
Section |
Nature of Income |
Rate of TDS applicable for the period |
Threshold Limit for deduction tax |
|
w.e.f. 01.04.2021 |
14-05-2020 to 31-03- 2021 |
|||
193 |
Interest on Securities |
10% |
7.50% |
- |
194 |
Dividend |
10% |
7.50% |
Rs. 5,000 in case of Individual |
194A |
Interest other than interest on Securities |
10% |
7.50% |
Rs. 5,000 to Rs. 50,000 |
194C |
Payment to Contractors |
- 1%: If deductee is an individual orHUF - 2%: In any othercase |
- 0.75%: If deductee is an individual or HUF - 1.50%: In anyother case |
- Single payment : Rs.30,000 - Aggregate payment: Rs. 100,000 |
194D |
Insurance Commission |
- 10%: If deductee is domesticCompany - 5%: In any othercase |
- 7.50%: If deductee is domesticCompany - 3.75%: In anyother case |
15,000 |
194G |
Commission and other payments on sale of lottery tickets |
5% |
3.75% |
15,000 |
194H |
Commission and Brokerage |
5% |
3.75% |
15,000 |
194-I |
Rent |
- 10%: If rent pertains to hiring of immovable property - 2%: If rent pertains to hiring of plant and machinery |
- 7.50%: If rent pertains to hiring of immovable property - 1.50%: If rent pertains to hiring of plant and machinery |
2,40,000 |
194-IB |
Payment of Rent by Certain Individuals or HUF |
5% |
3.75% |
50,000 |
194J |
Royalty and Fees for Professional or Technical Services |
- 2%: If royalty is payable towards sale, distribution or exhibition of cinematographicfilms - 2%: If recipient is engaged in business of operation of call Centre - 2%: If sum is payable towards fees for technical services (other than professionalservices) - 10%: In all othercases |
- 1.50%: If royalty is payable towards sale, distribution or exhibition of cinematographic films - 1.50%: If recipient is engaged in business of operation of call Centre - 1.50%: If sum is payable towards fees for technical services (other than professional services) - 7.50%: In all other cases |
- Director's fees: Nil - Others: Rs. 30,000 |
194M |
Payment to contractor, commission agent, broker or professional by certain Individuals or HUF |
5% |
3.75% |
50 lakhs |
194N |
Cash withdrawal |
- 2%: In general if cash withdrawn exceeds Rs. 1crore - 2%: If assessee has not furnished return for last 3 assessment years and cash withdrawn exceeds Rs. 20 lakhs but does not exceed Rs. 1crore - 5%: If assessee has not furnished return for last 3 assessment years and cash withdrawn exceeds Rs. 1crore |
- 1.50%: In general if cash withdrawn exceeds Rs. 1 crore - 1.50%: If assessee has not furnished return for last 3 assessment years and cash withdrawn exceeds Rs. 20 lakhs but does not exceed Rs. 1crore - 3.75%: If assessee has not furnished return for last 3 assessment years and cash withdrawn exceeds Rs.1 crore |
- If a person defaults in filing of return: 20 lakhs - If no default is made in filing of return: Rs 1 crore |
2. Rates of TCS
Section |
Goods & Services liable to TCS |
Rate of TDS applicable for the period |
|
w.e.f. 01.04.2021 |
14-05-2020 - 31-03- 2021 |
||
Section 206C(1) |
Alcoholic liquor for human consumption |
1% |
0.75% |
Section 206C(1) |
- Timber obtained under Forestlease - Timber obtained by any mode other than undera forest lease - Any other forest produce not being timber ortendu leaves |
2.50% |
1.875% |
Section 206C(1) |
Tendu leaves |
5% |
3.75% |
Section 206C(1) |
Minerals, being coal or ignite or iron ore |
1% |
0.75% |
Section 206C(1) |
Scrap |
1% |
0.75% |
Section 206C(1C) |
Parking Lot |
2% |
1.50% |
Section 206C(1C) |
Toll Plaza |
2% |
1.50% |
Section 206C(1C) |
Mining & quarrying |
2% |
1.50% |
Section 206C(1F) |
Motor Car |
1% |
0.75% |
Section 206C(1G) |
Overseas tour travel package |
5% |
3.75% |
Section 206C(1G) |
Remittance of Forex under LRS of Rs. 7 lakh or more in a financial year |
• 0.5%: Where remittance is a repayment of loan obtained for the purpose of pursuing any education • 5%: In any other case |
• 0.375%: Where remittance is a repayment of loan obtained for the purpose of pursuing any education • 3.75%: In any other case |
Section 206C(1H) |
Sale of goods in excess of Rs. 50 lakh |
0.10% |
0.075% |