TDS & TCS Rate Chart applicable from 14th May 2020

TDS & TCS Rate Chart applicable from 14th May 2020

TDS & TCS Rate Chart applicable from 14th May 2020

TDS & TCS Rate Chart applicable from 14th May 2020

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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:-

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TDS Rate Chart applicable from 14th May 2020

S. No Section of the Income-tax Act Nature of Payment Existing Rate of TDS Reduced rate from 14/05/2020 to 31/03/2021
1 193 Interest on Securities 10% 7.50%
2 194 Dividend 10% 7.50%
3 194A Interest other than interest on securities 10% 7.50%
4 194C Payment of Contractors and sub-contractors 1% (individual/HUF) 0.75% (individual/HUF)