Revised TDS and TCS Rates Applicable AY 2021-22

Income Tax, TDS

Aspirants who are looking for the change in the TDS and TCS rates can check here. Plenty of the people are in search of the TDS and TCS Rates as per the new rates of the government. due to the effect of the COVID 19 government has planned the relaxation in the tax deduction system. Students can check the changes in the TDS and TCS Rates and download the new rates charts applicable to 2020- 21 and AY 2021-22 by just following the below-given chart.

TDS Rate Chart For FY 2020-21 AY 2021- 2022 W.E.F 14th May 2020

Section Nature of Payment Threshold Limit TDS Effective From May 13th TDS Effective From 14th May 2020
Resident Non Resident Resident Non Resident
192 Salaries Normal Slab Rate Normal Slab Rate Normal Slab Rate Normal Slab Rate
192A Premature Withdrawal From EPF 50000 10% 10% 10% 10%
193 Interest received on Securities any security of the central or state government 10000 10% ——– 7.5% ——-

TCS Rates Effective From 14th May 2020 FY 2020-21 AY 2021-22

Section Nature of Payment TDS Effective From May 13th TDS Effective From 14th May 2020
206C Sale of tendu Leaves 5% 3.75%
206C Sale of timber taken adopted under a forest lease 2.5% 1.88%
206C Sale of timber adopted by any other form 2.5% 1.88%
 206C Sale of any other forest produced things not being timber/tendu leaves 2.5% 1.88%
206C Sale of Scarp 1% 0.75%
206C Alcoholic liquor for human consumption and Indian made foreign liquor 1% 1%
206C Sale of Mineral, being coal, Iron ore, Lignite 1% 0.75%
206C Grant of license Lease etc of a parking lot 1% 0.75%
206C Grant of the license, lease, etc For Toll Plaza 2% 1.5%
206C Grant of license or lease of mining and quarrying etc 2% 1.5%
206C Sale of Motor Vehicle above 10 Lakhs 1% 0.75%
206C Sale of any other products 0.1% 0.075%
206C Remittance under liberalized remittance scheme of vale exceeding scheme 7 Lakh in an FY 5% 5%

 

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