TDS Rate Chart For FY 2019-20 AY 2020-21, TCS Rates for FY 2019-20, Download in Excel, PDF Format

TDS Rate Chart For FY 2019-20 AY 2020-21, TCS Rates for FY 2019-20: TDS Rate Chart: TDS means “Tax Deducted at Source“. Here we provide TDS Rate Chart for AY 2020-21 OR FY 2019-20. TDS is one of the modes of collection of taxes, by which a certain percentage of amounts is deducted by a person at the time of making / crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government Account.

TDS is calculated and levied on the basis of a threshold limit specified by income tax department, which is the maximum level of income after which TDS will be deducted from your future income/payments.

TDS is deducted as per the Indian Income Tax Act, 1961. TDS is controlled by the Central Board for Direct Taxes and it is a part of the Indian Revenue Service Department.

Amendments introduced in 2019 budget.

SectionNaturePre- amendmentPost amendment
194AInterest Payment from BankLimit of Rs.10,000Limit of 40,000
194IRent PaymentLimit of Rs. 180,000Limit of Rs. 240,000

TDS is to be deducted on payment made as prescribed by Income Tax Act by persons who are liable to deduct TDS. It is the duty of the deductor to deduct TDS as given in Income Tax Act Following are the revised rate of TDS applicable for Financial Year 2019 -2020 Assessment Year 2020-21

TDS RATE CHART FINANCIAL YEAR 2019-20 (ASSESSMENT YEAR 2020-21)

 

 

Nature of Payment

 

 

Basic Cutoff (Rs.)

 

 

Individuals and HUF

Company

/ Firm / LLP /

Cop Society / Local Authority

 

If No Pan or Invalid PAN

192 – SalariesSlab RateSlab RatesSlab Rates30
192A-Premature withdrawal from Employee Provident Fund ( New Limit wef 01 June 2016)50000NA1020
 
193 – Interest on securities101020
194 – Dividend other than the dividend as referred to in Section 115-O2500101020
194A – Interest other than interest on securities –Others5000101020
194A – Banks(Time deposits)40000101020
194A – Banks (Recurring deposit)40000101020
194A – Deposit in Co-op Banks40000101020
194B – Winning from Lotteries10000303030
194BB – Winnings from Horse Race ( New Limit wef 01 June 2016)10000303030
 
194C- Payment to Contractor – Single Transaction300001220
194C-Payment to Contractor – Aggregate During the Financial year ( New Limit wef 01 June 2016)1000001220
)
194C- Contract – Transporter not covered under 44AE (wef 01 June 2015)30000 /

100000

1220
194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN (wef 01 June 2015) 

 

 

 

20

194D – Insurance Commission1500051020
194DA Payment in respect of life insurance policy (New Percentage w.e.f. 01 June 2016)10000011)20
  
194E – Payment to Non-Resident Sportsmen or Sports Association202020
194EE – Payments out of deposits under NSS (New Percentage w.e.f. 01 June 2016)2500101020
  
194F – Repurchase Units by MFs202020
194G – Commission – Lottery (New Percentage and Limit w.e.f. 01 June 2016)150005520
   
194H – Commission / Brokerage (New Percentage and Limit w.e.f. 01 June 2016)150005520
  
194I – Rent – Land and Building – furniture – fittings240,000101020
194I – Rent – Plant / Machinery / equipment240,0002220
194IA -Transfer of certain immovable property other than agriculture land50000001120
194IB – Rent payable by an individual or HUF not covered u/s. 194I50000

PM

 

5

 

5

 

20

194IC – Payment of Consideration (not being in kind) under Joint Development Agreement or other similar agreement 

NIL

 

10

 

10

 

20

194J – Professional Fees30000101020
Payment to CALL CENTER300002220
194LA – Immovable Property (New Percentage and Limit w.e.f. 01 June 2016). No TDS in case of right of

fair compensation act.

250000 

10

 

10

 

20

 
194LB – Income by way of interest from infrastructure debt fund (non-resident)5520
194LBB – Income in respect of investment in Securitisation trust. (New Section)253020
Sec 194 LC – Income by way of interest by an Indian specified company to a non-resident / foreign company on foreign currency approved loan / long- term infrastructure bonds from outside India 

 

5

 

5

 

20

194LD – Interest on certain bonds and govt. Securities5520
196B – Income from units101020
196C-Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) 

 

10

 

10

 

20

196D – Income of FIIs from securities202020

TCS RATES FOR THE FY 2019-20

The Tax Collection at Source Rates for the Financial Year 2019-20 is tabulated below:

Sl.No.Nature of GoodsRates in %
1.Alcoholic liquor for human Consumption 1
2.Tendu leaves 5
3.Timber obtained under forest lease 2.5
4.Timber obtained by any mode other than a forest lease 2.5
5.Any other forest produce not being timber or tendu leaves 2.5
6.Scrap 1
7.Parking lot 2
8.Toll plaza 2
9.Mining & Quarrying 2
10Minerals, being coal or lignite or iron ore 1
11Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 2 lakhs) 1
12Motor Car (if the sale consideration is paid in cash exceeding INR 10 lakhs) 1

Due dates for deposit of TDS are as under

Deductions made in the month of MarchOn or before 30 th April
Deductions made other than month of March and tax on perquisites opted to be deposited

by employer

On or before seven days from the close of the

month

Due dates for TDS quarterly Returns

Due dates for TDS quarterly Returns  
QuarterPeriodDue Date
Q11 Apr – 30 June31st July
Q21 July – 30 Sept31st Oct
Q31 Oct – 31 Dec31st Jan
Q41 Jan – 31 Mar31st May

 Notes and Important points to be kept in Mind 

  1. TDS is not applicable on service tax part if service tax is shown separately
  2. TCS (Tax Collection at Source) : Tax to be collected at source at the rate of 1 % on purchase of luxury cars exceeding value of Rs. 10 lakh and purchase of goods and services in cash exceeding Rs. 2 lakh. (Budget 2016 Proposal)
  3. TDS (Tax Deduction at Source):6% withholding tax to be deducted from the payment to a foreign company with no permanent establishment, for online advertisement. Ceiling limit for this purpose will be Rs. 1 Lakh. Levy will only apply to Business to Business
  4. Upon self-certification, no tax will be deducted on rental payments if the income of the payee does not exceed the maximum amount not chargeable to
  5. An Individual or a Hindu Undivided Family whose total sales ,gross receipts or turnover  from business or profession carried on by him exceeds the monetary limits under Sec.44AB during the preceding financial year shall also be liable to deduct tax
  6. Section 206AA of the Income-tax Act so as to provide that TDS shall not be deducted at a higher rate in case of non-residents not having PAN, subject to prescribed
  7. Deduction at lower or nil rate requires certificate u/s.197,which will take effect from the day it is issued. It cannot be used
  8. Interest and penalty will be applicable as per section 201 and section 271c. Imprisonment can be in cases of continuous failure ranging from 3 months to 7 years
  9. Failure to file quarterly TDS Returns in time- late fee @ Rs. 200/- per day (maximum of TDS amount) Section 234E

TDS Rate Chart For FY 2019-20 AY 2020-21. Here we provide all past years TDS Rate Chart like – TDS Rates For F.Y 2015-16 And AY 2016-17, TDS Chart for AY 2018-19, Download TDS Rate Chart for AY 2020-21 etc…. Here We are providing Latest TDS Rates for AY 2020-21. Scroll Down Below and check all Latest TDS Rate chart issued by Income tax Department. Download latest TDS Rate Chart. TDS/TCS Rates Chart for FY 2019-20 / AY 2020-21 . Download TAX Deducted at Source Rates Chart in pdf format. All TDS Rates are available at one place. Recently we are providing Various due dates for Indian taxes . You can also Download Latest Income Tax Slab Rates AY 2020-21 & All Years. Now check more details about “TDS Rate Chart For FY 2019-20 AY 2020-21” from below….

Download TDS Rate Charts

Recommended Articles