TDS Rate Chart – Tax Deducted at Source Interest Rates Slab

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TDS Rate Chart

TDS or Tax Deducted at Source is a mechanism of deducting earnings tax on the supply origin of taxable earnings. Under this earnings tax department has precise fees if the payee desires to deduct a sum of quantity as precise for that rate when creating a fee to the beneficiary.

Due to the unfold of COVID-19 within the country, the Indian Government introduced a comfort package deal, namely ‘Atma Nirbhar Relief Package,’ on thirteenth May 2020. In this package deal, one of the factors included the discount of TDS quotes for diverse sorts of payments. The advantage introduced within the Atma Nirbhar Package is relevant only for Indian residents. 

Revised TDS Rates for Residents till 31st March 2021

TDS Section Nature of Payment TDS Rate till 13th May 2020

TDS Rate from 14th May 2020 to 31st March 2021

194 Dividend 10.00% 7.50%
194A Income earned as interest other than ‘Interest on securities’ 10.00% 7.50%
192 Salary Applicable slab rate Applicable slab rate
192A Premature withdrawal from EPF 10.00% 10%
193 Interest on Securities from – any debenture of security issued by any authority or corporation established by the government, listed debenture of a company, any security of State or Central government, or any other security 10.00% 7.50%
194B Income from lotteries, card games, puzzles, etc. 30.00% 30%
194BB Income from Horse races 30.00% 30%
194C Payment made to contractor/sub-contractor –
a) Individual or HUF
1.00% 0.75%
  b) Others 2.00% 1.50%
194D Insurance commission paid –
a) Other than a company
5.00% 3.75%
  b) To Company 10.00% 10%
194DA Sum paid to insured with regards to Life Insurance Policy 5.00% 3.75%
194EE National Saving Scheme 10.00% 7.50%
194F Repurchase of the unit by MFs or UTIs 20% 15%
194G Commission on sale of lottery tickets 5% 3.75%
194H Commission/Brokerage 5% 3.75%
194I Rent for
a) Plant and Machinery
2% 1.75%
  b) Land and Building or Furniture and Fitting 10% 7.50%
194IA Transfer of immovable property other than agricultural land 1% 0.75%
194IB Rent paid by an individual or HUF and not covered under Section 194I (above ₹ 50,000) 5% 3.75%
194IC Payment under Joint Development Agreement to Individuals/HUF 10% 7.50%
194J a) Any sum paid concerning Professional fee or director’s fee 10% 7.50%
  b) Payment made concerning the technical fee or as Royalty for the sale or distribution or exhibition of cinematographic films. 2% 1.75%
194K Payment made concerning any of the following:
a) MF units as per section 10(23D).
b) Units from the specified company, or
c) Units from the administrator.
10% 7.50%
194LA Compensation for transfer of certain immovable property. 10% 7.50%
194LBA A business trust distributes specified income to its unit holder. 10% 7.50%
194LBB Income paid by investors fund to its investors 10% 7.50%
194LBC Income from investment in the securitization of fund
a) For Individual/HUF
25% 18.75%
  b) For Company or any other person 30% 22.50%
194M Certain payments made by HUF or Individual above ₹ 50 lakhs 5% 3.75%
194N Certain payments made in cash:
a) Amount more than ₹ 20 lakhs but less than ₹ 1 crore
N.A. 2%
  b) Amount exceeds ₹ 1 crore (Applicable from 1st July 2020) N.A. 5%
194O For E-commerce operators for sale of goods or provision of services facilitated by it through its digital platform (from 1st Oct 2020) N.A. 0.75%

TDS Chart Applicable for Non-Residential of India (NRIs)

Section Nature of Payment TDS Rate
192 Salary Applicable slab rate
192A Premature withdrawal of EPF 10.00%
194B Income from lotteries, crossword puzzles, card games, etc. 30%
194BB Income from winning horse races 30.00%
194E Any payment made to non-resident sportsman/association 20.00%
194EE Payment concerning deposits in National Savings Scheme 10.00%
194F Payment on account of repurchase of a unit by MF or UTI 20.00%
194G Commission on sale of lottery tickets 5.00%
194LB The interest of Infrastructure debt fund 5.00%
194LBA Income from business trust units –
a) Interest received or receivable from special purpose vehicle
5.00%
  b) Dividend referred in section 115-O(7). 10.00%
194LBC Income from investment in securitization fund 30.00%
194LC Interest payment by an Indian company or business trust for loan availed in foreign currency. 5.00%
194LD Interest payment on a bond of an Indian company or government security to a foreign investor 5%
194N Certain payments made in cash:
a) Amount more than ₹ 20 lakhs but less than ₹ 1 crore
2%
  b) Amount exceeds ₹ 1 crore (Applicable from 1st July 2020) 5%
195 Various Payments made to Non-Resident
a) Income on the investment made by Non-Resident Indian Citizen
20%
  b) A long term capital gain referred to in Section 115E 10%
  c) Long-term capital gain referred to in Section 193(1)(c)(iii). 10%
  d) Short term capital gain referred to in section 111A 15%
  e) Any other long term capital gain other than the gain referred to in clauses (33), (36), and (38) of section 10 20%
  f) Income from interest payable by government or Indian concern on a debt availed in a foreign currency other than the income covered in Section 194LB and 194LC 20%
196A Income from MF units under clause (23D) of section 10 or the specified company in clause (35) of section 10 20%
196B Income from units including long term capital gain or the transfer of units to offshore fund 10%
196C Income from foreign currency bond or GDR of an Indian company 10%
196D Income of foreign institutional investors from securities 20%
 

TDS Rates Applicable on Domestic Company

Section Nature of Payment TDS Rate till 13th May 2020
TDS Rate from 14th May 2020 to 31st March 2021
193 Interest on Securities 10% 7.50%
194 Dividend 10.00% 7.50%
194A Interest income other than interest on securities 10% 7.50%
194B Income from lotteries, crossword puzzles, card games, etc. 30.00% 30%
194BB Income from winning horse races 30.00% 30.00%
194C Payment to Contractor/sub-contractor – a) HUF/Individuals 1.00% 1%
  b) Others 2.00% 2%
194D Insurance Commission 5.00% 3.75%
194DA Payment of Life Insurance Policy 5.00% 3.75%
194EE Payment with regards to deposit under National Saving Scheme 10.00% 7.50%
194F Repurchase of units by MF or UTIs 20.00% 15%
194G Commission on sale of lottery tickets 5.00% 3.75%
194H Commission or brokerage 5.00% 3.75%
194I Rent –
a) Plant and Machinery
2% 2%
  b) Land and Building or Furniture and Fitting 10% 7.50%
194IA Payment on transfer of certain immovable property other than agricultural land 1% 0.75%
194IB Rent paid by individual or HUF not covered under Section 194I 5% 3.75%
194IC Payment under Joint Development Agreements to Individual or HUF 10% 7.50%
194J Payment made as –
a) Professional fee or director’s fee/remuneration
10% 7.50%
  b) Technical fee or Royalty for sale/distribution/exhibition of cinematography films 2% 1.75%
194LBA Income distributed by a business trust to its unitholders 10% 7.50%
194LA Payment for acquisition of certain immovable property 10% 7.50%

TDS Rates Applicable for Non-Domestic Company

Section Nature of Payment TDS Rate
194B Income from lotteries, crossword puzzles, card games, etc. 30%
194BB Income from winning horse races 30.00%
194E Payment to the non-resident sports association 20%
194G Commission on sale of lottery tickets 5.00%
194LB Interest on Infrastructure debt fund 5.00%
194LBA Income distributed by business trust to unitholders 5.00%
194LBC Income in respect of securitization of funds 40.00%
194LC Interest payment by an Indian company or business trust for loan availed in foreign currency. 5.00%
194LD Interest payment on a bond of an Indian company or government security to a foreign investor 5.00%
195 Various other payments  
  a) Long term capital gain referred to in sub-clause (iii) of clause © of subsection (1) of Section 112 10.00%
  b) Short term capital gain referred to in section 111A 15.00%
  c) Any other long term capital gain not referred to in clauses (33), (36), and (38) of section 10 20.00%
  d) Income from interest payable by Indian government or Indian concern for loan availed in foreign currency, not covered in Section 194LB and 194LC 20%
  e) Royalty income payable by the Indian government or Indian concern (first and the second proviso of subsection (1A) of section 115A 10%
196B Income from units, including long-term capital gain and transfer of units to offshore funds. 10%
196C Income from foreign currency bonds or GDR of an Indian company 10%
196D Income of foreign institutional investors from securities 20%

Interest on Late TDS Payment

The TDS fee via challan is needed through the seventh of the subsequent month for the concerned month. In different words, when you have to pay the quantity deducted through you as TDS within April, then it should be completed by the seventh of May. Thus, if the charge isn’t always made by the due date, then interest on the due quantity is charged on a month-to-month foundation at the rate of 1.50% on the due quantity.

Contact 9878981166 or visit Dialabank’s website for more details.

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