Following is the tds rate for the financial year 2020-21

NATURE OF PAYMENTSECTIONCUT OFF LIMITTDS Rate for Individual and HUFTDS rate for others
Premature payment by PF from EPF A/C
(i.e. before 5 Years).
192A50,00010%NA
Payment of Interest by bank194A50,000 (Senior citizen)
40,000 (Others)
14.05.20 – 7.50%

Before – 10%
14.05.20 – 7.50%

Before – 10%
Payment of Interest by others194A5,00014.05.20 – 7.50%

Before – 10%
14.05.20 – 7.50%

Before – 10%
Payment to contractors194C30,000 Single bill or 1 lakh aggregate bill during the year14.05.20 – 0.75%

Before – 1%
14.05.20 – 1.50%

Before – 2%
Payment to Transport Covered u/s. 44E and submit declaration in Prescribed format.( i.e. owning less Than 10 goods carriages)194C00
Payment to Transport not covered u/s. 44E (i.e. owning more than 10 goods Carriages)194C30,000 Single bill or 1 lakh aggregate bill during the year14.05.20 – 0.75%

Before – 1%
14.05.20 – 1.50%

Before – 2%
Payment of Insurance Commission to Agents by Insurance Company.194D15,00014.05.20 – 3.75%

Before – 5%
14.05.20 – 7.50%

Before – 10%
Payment in respect of maturity of life Insurance Policy by Life Insurance Company.194DA1 Lakh14.05.20 – 3.75%

Before – 5%
14.05.20 – 3.75%

Before – 5%
Payment of commission or Brokerage194H15,00014.05.20 – 3.75%

Before – 5%
14.05.20 – 3.75%

Before – 5%
Payment of rent on land, building, Furniture and fittings.194I240,00014.05.20 – 7.50%

Before – 10%
14.05.20 – 7.50%

Before – 10%
Payment of rent on plant, machinery or Equipment.194I240,00014.05.20 – 1.50%

Before – 2%
14.05.20 – 1.50%

Before – 2%
Payment of Professional Fees other Than call centers194J30,00014.05.20 – 7.50%

Before – 10%
14.05.20 – 7.50%

Before – 10%
TDS rate Chart for FY 2020-21

Leave a Reply

Your email address will not be published. Required fields are marked *