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

TDS Rate Chart

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.

Section Nature Pre- amendment Post amendment
194A Interest Payment from Bank Limit of Rs.10,000 Limit of 40,000
194I Rent Payment Limit of Rs. 180,000 Limit 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 – Salaries Slab Rate Slab Rates Slab Rates 30
192A-Premature withdrawal from Employee Provident Fund ( New Limit wef 01 June 2016) 50000 NA 10 20
 
193 – Interest on securities 10 10 20
194 – Dividend other than the dividend as referred to in Section 115-O 2500 10 10 20
194A – Interest other than interest on securities –Others 5000 10 10 20
194A – Banks(Time deposits) 40000 10 10 20
194A – Banks (Recurring deposit) 40000 10 10 20
194A – Deposit in Co-op Banks 40000 10 10 20
194B – Winning from Lotteries 10000 30 30 30
194BB – Winnings from Horse Race ( New Limit wef 01 June 2016) 10000 30 30 30
 
194C- Payment to Contractor – Single Transaction 30000 1 2 20
194C-Payment to Contractor – Aggregate During the Financial year ( New Limit wef 01 June 2016) 100000 1 2 20
)
194C- Contract – Transporter not covered under 44AE (wef 01 June 2015) 30000 /

100000

1 2 20
194C- Contract – Transporter covered under 44AE & submit declaration on prescribed form with PAN (wef 01 June 2015)  

 

 

 

20

194D – Insurance Commission 15000 5 10 20
194DA Payment in respect of life insurance policy (New Percentage w.e.f. 01 June 2016) 100000 1 1) 20
   
194E – Payment to Non-Resident Sportsmen or Sports Association 20 20 20
194EE – Payments out of deposits under NSS (New Percentage w.e.f. 01 June 2016) 2500 10 10 20
   
194F – Repurchase Units by MFs 20 20 20
194G – Commission – Lottery (New Percentage and Limit w.e.f. 01 June 2016) 15000 5 5 20
     
194H – Commission / Brokerage (New Percentage and Limit w.e.f. 01 June 2016) 15000 5 5 20
   
194I – Rent – Land and Building – furniture – fittings 240,000 10 10 20
194I – Rent – Plant / Machinery / equipment 240,000 2 2 20
194IA -Transfer of certain immovable property other than agriculture land 5000000 1 1 20
194IB – Rent payable by an individual or HUF not covered u/s. 194I 50000

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 Fees 30000 10 10 20
Payment to CALL CENTER 30000 2 2 20
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) 5 5 20
194LBB – Income in respect of investment in Securitisation trust. (New Section) 25 30 20
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. Securities 5 5 20
196B – Income from units 10 10 20
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 securities 20 20 20

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 Goods Rates 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
10 Minerals, being coal or lignite or iron ore   1
11 Bullion or jewellery (if the sale consideration is paid in cash exceeding INR 2 lakhs)   1
12 Motor 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 March On 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    
Quarter Period Due Date
Q1 1 Apr – 30 June 31st July
Q2 1 July – 30 Sept 31st Oct
Q3 1 Oct – 31 Dec 31st Jan
Q4 1 Jan – 31 Mar 31st 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….

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

  1. J.Peter Loyola says:

    Sir, we are in a position to receive a sum of Rs.3,50,00,000/-(Rupees Three Crore Fifty Lakhs) three cheques for Rs.one crore each and five cheques for Rs.Nine Lakhs and one cheque for Rs. Five Lakhs. from a corporate company of UK from their SBI Indian account to our ICICI account in India as corpus fund. Please let us know, In what way the taxes are applied for this transaction?

  2. Sindhu says:

    Dear Sir/Madam,

    Ours is a manufacturing company and received a bill towards exhibition participation fee. Is TDS deductible in such case?

    and also should tds be decucted on freight charges

  3. rajendra shah says:

    dear raju chaudhary sir,

    sir,

    i am an accountant of the educational institute and institute run under trust.

    i would like to know

    if I pay the bill of Rs. 45000/- by cheque, what about tds on this

    and

    if the same amount is paid in cash what about tds ?

    and if i have no working capital to meet the expenses of the business

    then what amouint should i borrow from others to avoid tds

    amount in cash —————-

    amount by cheque ————-

    can i take donations ? if yes, what is the limit

    • Raju Choudhary says:

      Hi rajendra shah

      Payments exceeding Rs. 20,000/- cannot be made in cash. If the same are made, the expense will be disqualified.
      TDS has to be deducted if the same falls under the relevant sections concerning TDS. It makes no difference as regards to TDS whether the payments are made in cash or through bank.
      If the required TDS is not deducted, 30% of the expense will be disallowed in the current year.
      To the next query, borrowing working capital has nothing to do with TDS. You can borrow any amount but TDS provisions will still be applicable.
      There is no limit on donations but it is better to get donations with the name and address of the donor. Anonymous donations should be as few as possible.

  4. Dipak D Diwakar says:

    Nice chart one query is that u/s 194c if the one time payment 30000 or whole year amount exceed 75000 that time no need to deduct the tax wef 01062015 if receiving the declaration

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