New TDS/TCS Rate Chart For Fy 2020-2021 | W.e.f 14th may 2020 to 31st march 2021

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New TDS/TCS Rate Chart For Fy 2020-2021 | W.e.f 14th may 2020 to 31st march 2021| TDS Rate Chart

Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, 13th May, 2020

PRESS RELEASE

In order to provide more funds at the disposal of the taxpayers for dealing with the
economic situation arising out of COVID-19 pandemic, the rates of Tax Deduction at Source
(TDS) for the following non-salaried specified payments made to residents has been reduced
by 25% for the period from 14th May, 2020 to 31st March, 2021:-

S. no Section of
the Incometax
Act
Nature of PaymentExisting Rate
of TDS
Reduced rate
from
14/05/2020 to
31/03/2021
1193Interest on Securities10%7.5%
2194Dividend10%7.5%
3194AInterest other than interest
on securities
10%7.5%
4194CPayment of Contractors
and sub-contractors
1% (individual/
HUF)
2% (others
0.75% (individual/
HUF)
1.5% (others)
5194DInsurance Commission5%3.75%
6194DAPayment in respect of life
insurance policy
5%3.75%
7194EEPayments in respect of
deposits under National
Savings Scheme
10%7.5%
8194FPayments on account of
re-purchase of Units by
Mutual Funds or UTI
20%15%
9194GCommission, prize etc.,
on sale of lottery tickets
5%3.75%
10194HCommission or brokerage5%3.75%
11194-I(a)Rent for plant and machinery2%1.5%
12194-I(b)Rent for immovable property10%7.5%
13194-IAPayment for acquisition
of immovable property
1%0.75%
14194-IBPayment of rent by individual
or HUF
5%3.75%
15194-ICPayment for Joint Development
Agreements
10%7.5%
16194JFee for Professional or
Technical Services (FTS),
Royalty, etc.
2% (FTS, certain
royalties,
call centre)
10% (others)
1.5% (FTS,
certain royalties,
call centre)
7.5% (others)
17194KPayment of dividend by
Mutual Funds
10%7.5%
18194LAPayment of Compensation
on acquisition of immovable
property
10%7.5%
19194LBA(1)Payment of income by
Business trust
10%7.5%
20194LBB(i)Payment of income by Investment
fund
10%7.5%
21194LBC(1)Income by securitisation
trust
25% (Individual/
HUF)
30% (Others)
18.75% (Individual/
HUF)
22.5% (Others)
22194MPayment to commission,
brokerage etc. by Individual
and HUF
5%3.75%
23194-OTDS on e-commerce participants1%
(w.e.f.
1.10.2020)
0.75%
  1. It is further stated that there shall be no reduction in rates of TDS or TCS, where the tax
    is required to be deducted or collected at higher rate due to non-furnishing of
    PAN/Aadhaar. For example, if the tax is required to be deducted at 20% under section
    206AA of the Income-tax Act due to non-furnishing of PAN/Aadhaar, it shall be deducted
    at the rate of 20% and not at the rate of 15%.

5. Legislative amendments in this regard shall be proposed in due course.

(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT


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