TDS & TCS Rate Chart for F.y.2020-21 (A.y.2021-22)

TDS Rate Chart for F.y.2020-21 (A.y.2021-22)

SectionNature of PaymentThresholdIndividual / HUFOthers
 Rs.TDS Rate (%)TDS Rate (%)
192APremature withdrawal from EPF50,00010%
193Interest on Securities10,00010%10%
194AInterest (Banks) / For those who are 60 years or older, TDS will only be deducted if the interest income exceeds Rs.50,000 in a given financial year.40,000 / 50,00010%10%
194AInterest (Other than securities)5,00010%10%
194BWinning from Lotteries10,00030%30%
194BBWinning from Horse Race10,00030%30%
194CContractor30,000 Single Bill or 1,00,000 aggregate bills during the year1%2%
194DInsurance Commission (15G – 15H allowed)15,0005%10%
194DALife insurance Policy1,00,0001%1%
194ENon-Resident Sportsmen or Sports Association20%20%
194FRepurchase Units by MFs20%20%
194GCommission – Lottery15,0005%5%
194HCommission / Brokerage15,0005%5%
194IRent of Land and Building, Furniture & Fittings2,40,00010%10%
194IRent of Plant / Machinery / Equipment2,40,0002%2%
194IATransfer of certain immovable property other than agriculture land50,00,0001%1%
194IBRent by Individual / HUF not Liable to Tax Audit
(wef 01.06.2017)
194ICPayment under Specified agreement10%10%
194JProfessional Fees other than Technical Fees30,00010%10%
194JPayment of Technical Fees (w.e.f. 01.04.2020)30,0002%2%
194JPayment to Call Centre Operator
(wef 01.06.2017)
194KPayment 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
(w.e.f. 01.04.2020)
194LACompensation on transfer of certain
immovable property other than
agricultural land
194LAImmovable Property (TDS exempted under RFCTLARR Act (wef 01.04.2017)
194LBIncome by way of interest from infrastructure debt fund (non- resident)5%5%
194LBACertain income from units of a business trust(applicable from 01.10.2014) 10%10%
194LBACertain income from units of a business trust to non-resident (applicable from 01.10.2014)5%5%
194LBBIncome in respect of units of investment fund10% For Residents,
30 % For Non-Residents
10% For Residents,
30 % For Non-Residents
194LBCIncome in respect of investment in securitization trust30% For Residents, 40% For Non-Residents, 25% for Individual and HUF30% For Residents, 40% For Non-Residents, 25% for Individual and HUF
194LCIncome by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long-term infrastructure bonds from outside India (applicable from July 1, 2012)5%5%
194LDInterest on certain bonds and Govt. Securities (from 01-06-2013)5%5%
194MPayment 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%
194NCash withdrawal in excess of 1 crore during the previous year with bank or co-operative society
(wef 01.09.2019)
194OE-Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform.

In case the E-commerce participant does not furnish PAN or Aadhar Number to the e-commerce operator, TDS shall be deducted at the rate of 5% under section 206AA of the Act.
(This Section is inserted by Finance Act, 2020 which is applicable from 01/10/2020)

Note 1: From 1st April 2020, the payment of Fees for Technical service shall be subject to TDS at the rate of 2%. However, w.e.f. 01.04.2017, the tax on payments made to operators of call centres shall be deducted at a reduced rate of 2%.

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Note 2: Surcharge is not deductible on payments made to residents, other than salary.

Note 3: TDS Rate without PAN-20% Flat (if TDS Rate is lower than 20%)

Note 4: In case of non-resident, surcharge would be applicable on TDS.

TCS Rate Chart for F.y.2020-21 (A.y.2021-22)

SectionNature of PaymentTCS Rate (%)
206CTendu Leaves5%
206CTimber obtained under a forest lease or other mode2.5%
206CAny other forest produce not being a timber or tendu leave2.5%
206CAlcoholic Liquor for human consumption1%
206CParking Lot, Toll Plaza, Mining and Quarrying2%
206CMinerals, being coal or lignite or iron ore
(applicable from July 1, 2012)
206CSale of motor vehicle of the value exceeding Rs. 10 Lacs (wef 01.06.2016) Motor vehicle clause not applicable on Central Government, a State Government, an embassy, a High Commission, Legation, Commission, Consulate and the Trade Representation of a foreign State; Local Authority; a Public Sector Company which is engaged in the business of carrying passengers (wef 01.04.2017)1%
206CBullion if consideration (excluding any coin / article weighting 10 grams or less) exceeds Rs. 2 Lakhs1%
206CTCS on sale in cash of any goods (other than bullion/jewellery)1%
206CTCS on providing of any services (other than Ch-XVII-B)1%
206C(1G)(a)TCS on foreign remittance through Liberalised Remittance Scheme (applicable from 01.04.2020)5 (10% for Non PAN or Aadhar)
206C(1G)(b)TCS on selling of overseas tour package (applicable from 01.04.2020)5 (10% for Non PAN or Aadhar)
206C(1H)TCS on sell of any goods (except goods on which TCS applicable as per Section 206C(1), 206C(1F) and 206C(1G)), (applicable from 01.04.2020)0.1 (1% for Non PAN or Aadhar)

Note 1:  TCS Rates without PAN Double of TCS rates as above or 5%, whichever is higher.

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Download the TDS Rate Chart from here: TDS Rate Chart for F.y.2020-21

Download the TCS Rate Chart from here: TCS Rate Chart for F.y.2020-21

Please note that while Launching Atmnirbhar Bharat Scheme by Finance Minister the Revised Rate of TDS/TCS Chart have been issued for dealing with the economic situation arising out of COVID-19 pandemic. The Revised TDS/TCS Rate Chart is effective from 14th May 2020 to 31st March 2021.

You can also read from here: Revised TDS/TCS Rate Chart from 14th May 2020 to 31st March 2021

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Author: admin

BharaTax is an online Blog portal for reporting all the latest articles, judgments, Circulars, orders, and notifications relating to Taxation Laws in India.

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