TDS Rate Chart FY 2021-22

TDS Rate Chart FY 2021-22

1. TDS/TCS Rate Chart for FY 2021-22
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TDS Rate Chart

Section Nature of Payment Threshold Limit TDS Rate
192 Salaries - Slab Rate
192A Premature withdrawal from EPF 50,000 10%
193
Interest on securities - 8% Savings (Taxable) Bonds,
2003 or 7.75% Savings (Taxable) Bonds, 2018 during
the financial year

10,000

10%
193
Interest on securities - Interest on securities for
money issued by or on behalf of any local
authority/statutory corporation, listed debentures of
a company (other than demat form), any other
interest on securities


5,000


10%
194 Dividends 5,000 10%
194A
Interest (Banking co., co-operative society engaged
in banking, post office)
40,000 10%
194A
Interest (Any other person)
No TDS on payment of interest by an infrastructure
debt fund w.e.f. 01.04.2021
5,000
10%
194B Winning from lotteries 10,000 30%
194BB Winning from Horse race 10,000 30%
194C Contractor – Single Payment/ Consolidated
30,000 for single
payment /100,000
for aggregate
payment

- Individual/HUF 1%
- Others 2%
194D Insurance commission
15,000

- Other than Company 5%
- Company 10%
194DA Maturity of Life insurance policy 100,000 5%
194EE NSS 2,500 10%
194F Repurchase units by MFs - 20%
194G Commission-Lottery 15,000 5%
194H Commission/Brokerage 15,000 5%
194I Rent of - Plant/Machinery /Equipment
240,000
2%
- Land and Building/Furniture & Fixture 10%
194IA
Transfer of certain immovable property other than
agriculture land
50,00,000 1%
194IB Rent by Individual/HUF
50000 per
month

194IC
Payment under Joint Development Agreements to
Individual/HUF
- 10%
194J Professional Fees and Director's fees 30,000 10%
194J Technical Fees and Payment to call center operator 30,000 2%

2. TDS/TCS Rate Chart for FY 2021-22
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Section Nature of Payment Threshold Limit TDS Rate
194K
Payment of any income in respect of
5,000
10%
(a) units of a mutual fund as per section 10(23D); or
(b) the units from the administrator; or
(c) units from specified company
194LA
Compensation on transfer of certain immovable
property other than agriculture land
2,50,000 10%
194LB
Income by way of interest from infrastructure debt
Fund to foreign company
- 5%
194LBA Income from units of business trust -

- interest received or receivable from a special
purpose vehicle; or
- 10%

- dividend referred to in sub-section (7) of
section 115-O
- 10%
194LBA Distribution of rental income to unit holders - 10%
194LBB Income in respect of units of investment fund -
- Other than Company - 10%
- Company - 10%
194LBC
Income in respect of investment in securitization
fund
-
- Individual/HUF - 25%
- Company - 30%
- Other Person - 30%
194M
Certain payments by Individual/HUF (REFER NOTE 1) 50,00,000
5%
194N Cash Withdrawals where no defaults in return filings 1,00,00,000 2%
194N
Cash Withdrawls(first proviso of
section 194N) (REFER NOTE 2)


- Amount is more than Rs.20 lakhs but up to Rs.
1 crore
20,00,000
2%
- Amount exceeds Rs. 1 crore 1,00,00,000 5%
194-O
Applicable for e-commerce operator for the sale of
goods or provision of services facilitated by it
through its digital or electronic facility or platform
5,00,000
N.A.
194Q
Purchase of Goods by a person (REFER NOTE 3)
(w.e.f. 01
st
July 2021)
50,00,000 0.1%

NOTE 1: Payment means payment made to resident individual for carrying out any contractual work or
providing any professional services in financial year exceeds Rs.50 lakhs
NOTE 2: In case the individual receiving the money has not filled income tax returns for three years
immediately preceding the year

3. TDS/TCS Rate Chart for FY 2021-22
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NOTE 3: TDS on purchase of goods (w.e.f. 01.07.2021)
• TDS under this section is only required to be deducted by those person (i.e. buyer) whose total sales
or gross receipts or turnover from the business carried on by him exceed Rs. 10 Crores during the
financial year immediately preceding the financial year in which the purchase of goods is carried
out.
• Tax is required to be deducted by such person, if the purchase of goods by him from the seller is of
the value or aggregate of such value exceeding Rs. 50 Lakhs in the previous year.
NOTE 4: New Section 206AB: Higher rate for deduction of TDS for non-filers of income-tax return
(w.e.f . 01.07.2021)
• The specified person is –
o a person who has not filed the returns of income for both of the two assessment years
relevant to the two previous years which are immediately before the previous year in which
tax is required to be deducted or collected, as the case may be and
o A person whose TDS is Rs. 50,000 or more in each of these two previous years
• TDS rate in this section is higher of the followings rates:
(i) Twice the rate specified in the relevant provision of the Act; or
(ii) Twice the rate or rates in force; or
(iii) The rate of five per cent
• If the provision of section 206AA (Non availability of PAN number) of the Act is applicable to a
specified person, in addition to the provision of this section, the tax shall be deducted at higher of
the two rates provided in this section and in section 206AA (20%) of the Act.

• This section shall not apply where the tax is required to be deducted under sections 192, 192A,
194B, 194BB, 194LBC or 194N of the Act.
NOTE 4: Section 194P – Deduction of tax in case of specified senior citizen
In order to provide relief to senior citizens (Age of 75 years or more), New section inserted to
provide relaxation from filling Income tax return if –
• Senior citizen resident in India, age of 75 years or more during the previous year.
• He has pension income and no other income
• He shall furnish declaration to specified bank giving details of deduction allowable under Chapter
VI-A and after allowing rebate u/s 87A specified bank deduct income tax on basis of rates in force.

4. TDS/TCS Rate Chart for FY 2021-22
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TCS Rate Chart

Section Nature of Payment Threshold Limit TCS Rate
206C(1)
Scrap
- 1%
206C(1)
Tendu Leaves
- 5%
206C(1) Timber obtained - 2.5%
206C(1) Alcoholic Liquor for Human Consumption - 1%
206C(1) Minerals, being coal or lignite or iron ore - 1%
206(1C) Parking Lot, Toll Plaza, Mining & Quarrying - 2%
206(1F) Sale of Motor Vehicle 10,00,000
1%
206C(1G) Overseas Tour Program Package - 5%
206C(1G)
Remittance under Liberalised Remittance Scheme
of the Reserve Bank of India for education loan
taken from financial institution mentioned under
section 80E
7,00,000 0.5%
206C(1G)
Remittance under LRS (for purpose other than for
purchase of overseas tour package or for
education loan taken from financial institution
mentioned under section 80E)
7,00,000
5%
206C(1H) Sale of Goods by a person (REFER NOTE 1) 50,00,000 0.1%

NOTE 1: TCS on Sale of goods
• TCS under this section is only required to be deducted by those person (i.e. seller) whose total sales
or gross receipts or turnover from the business carried on by him exceed Rs. 10 Crores during the
financial year immediately preceding the financial year in which the sale of goods is carried out.
• Tax is required to be collected by such person, if the sale of goods by him to the buyer is of the
value or aggregate of such value exceeding Rs. 50 Lakhs in the previous year
• In case of transaction on which TDS u/s.194Q is applicable w.e.f. 01/07/2021, then TCS
u/s.206C(1H) not applicable

5. TDS/TCS Rate Chart for FY 2021-22
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NOTE 2: Section 206CCA - Higher Rate of TCS for Non-Filer of ITR
• The specified person is –
o a person who has not filed the returns of income for both of the two assessment years
relevant to the two previous years which are immediately before the previous year in which
tax is required to be deducted or collected, as the case may be and
o A person whose TCS is Rs. 50,000 or more in each of these two previous years
• TCS rate in this section is higher of the followings rates:
(i) Twice the rate specified in the relevant provision of the Act; or
(ii) The rate of five per cent

• If the provision of section 206CC (i.e. PAN not available) of the Act is applicable to a “specified
person”, in addition to the provision of this section, the tax shall be collected at higher of the two
rates provided in this section and in section 206CC of the Act.


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