NEW TDS RATES

NEW TDS RATES EFFECTIVE FROM 14TH MAY 2020. HERE IS THE LIST OF MOST COMMON HEADS!

File TDS Return Online

SECTIONNATURECURRENT (TILL 13TH MAY)RATE EFFECTIVE FROM 14TH MAY 2020 TO 31ST MARCH 2021
194 JPayment of Professional Fees etc.10 % *in certain cases like royalty, technical service fees rate is 2%7.5 *in certain cases like royalty, technical service fees rate is 1.5%
194 CPayment of Contractors and sub-contractors1% (individual/HUF) 2% (others)0.75% (individual/HUF) 1.5% (others)
194 I(a)Rent for plant and machinery2%1.5%
194 I(b)Rent for immovable property10%7.5%
194 I APayment made while purchasing land or property1%0.75%
194 I BPayment of rent by individual or HUF exceeding Rs. 50,000 per month5%3.75%


194 A
Interest other than Interest on Securities e.g. Fixed deposit interest10%7.5%
194 B 194 BBWinnings from lottery, crosswords or any sort of game OR HORSE RACES30%30%
194 HCommission or brokerage received except for Insurance Commission5%`3.75%
194 MPayment made to professional or commission or brokerage of more than Rs 50 lakh and above5%3.75%

You can see the detailed press release by Gov. here https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/834/Press-Release-Reduction-in-TDS-TCS-Rates-dated-14-05-2020.pdf

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