Last year Finance Minister Nirmala Sitharaman has announced a slew of direct tax measures as part of theCovid-19relief package on 13th May 2020 by reducing the TDS and TCS rates by 25% which was from 14th May 2020 till 31-03-2021. Now from 01st April 2021 onwards, the Rates have been again the same as earlier. Therefore we have enumeratedthe Latest TDS Rate chart for FY 2021-22 (AY 2022-23) in the following table. TDS rate chart for Financial Year 2021-22 is also provided in PDF for download below, which can be downloaded in Pdf table.
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TDS Rate chart for FY 2021-22 (AY 2022-23)
| Section | Nature of Payment | Threshold | Individual/HUF | Others |
| 192 | Salary | Taxable Income liable to Tax | Normal Slab Rate OR New Tax Regime Slab Rate as opted by employee. OPTION TO CHOOSE BETWEEN NEW AND OLD TAX SLAB REGIME FOR SALARIED EMPLOYEES | NA |
| 192A | Premature withdrawal from EPF | 50,000 | 10% | NA |
| 193 | Interest on securities | 2,500 | 10% | 10% |
| 194 | Dividend | 5,000 | 10% | 10% |
| 194A | Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit | 40000 | 10% | 10% |
| 194A | Interest on Bank Deposit/Post Office Deposit/Banking Co-Society Deposit (Payee:Senior Citizen) | 50,000 | 10% | NA |
| 194A | Interest other than “Interest on securities”(Other Than Bank Deposit/Post Office Deposit/Banking Co-Society Deposit) | 5,000 | 10% | 10% |
| 194B | Winnings from lotteries, crossword puzzles, card games and other games of any sort | 10,000 | 30% | 30% |
| 194BB | Winnings from horse races | 10,000 | 30% | 30% |
| 194C | Payment to contractor/sub-contractor | Single Transaction: 30,000 & Aggregate of Transactions: 1,00,000 | 1% | 2% |
| 194D | Insurance commission | 15,000 | 5% | 10% |
| 194DA | Payment in respect of life insurance policy | 1,00,000 | 1% | 1% |
| 194E | Payment to non-resident sportsmen/sports association | – | 20% | 20% |
| 194EE | Payment in respect of deposit under National Savings scheme | 2,500 | 10% | 10% |
| 194F | Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India | – | 20% | 20% |
| 194G | Commission on sale of lottery tickets | 15,000 | 5% | 5% |
| 194H | Commission or brokerage | 15,000 | 5% | 5% |
| 194-I | Rent: | |||
| 194I(a) | Rent of Plant & Machinery | 2,40,000 | 2% | 2% |
| 194I(b) | Rent of Land or building or furniture or fitting | 2,40,000 | 10% | 10% |
| 194-IA | Payment on transfer of certain immovable property other than agricultural land | 50 Lakh | 1% | 1% |
| 194-IB | Payment of rent by individual or HUF not liable to tax audit | 50,000 per month | 5% | NA |
| 194-IC | Payment of monetary consideration under Joint Development Agreements | – | 10% | 10% |
| 194J(a) | Fees for technical services or towards royalty in the nature of consideration for sale, distribution or exhibition of cinematographic films; | 30,000 | 2% | 2% |
| 194J(b) | Fees for professional services | 30,000 | 10.00% | 10.00% |
| 194K | Income in respect of units payable to resident person | – | 10% | 10% |
| 194LA | Payment of compensation on acquisition of certain immovable property | 2,50,000 | 10% | 10% |
| 194LB | Payment of interest on infrastructure debt fund to Non Resident | – | 5% | 5% |
| 194LBA(1) | Business trust shall deduct tax while distributing, any interest received or receivable by it from a SPV or any income received from renting or leasing or letting out any real estate asset owned directly by it, to its unit holders. | – | 10% | 10% |
| 194LBB | Investment fund paying an income to a unit holder [other than income which is exempt under Section 10(23FBB)] | – | 10% | 10% |
| 194LBC | Income in respect of investment made in a securitisation trust (specified in Explanation of section115TCA) | 25% | 30% | |
| 194M | Payment of commission ( to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J. | 50 Lakh | 5% | 5% |
| 194N | Cash withdrawal during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in business of banking or a post office:in excess of 1 Crore | 1 Crore | 2% | 2% |
| 194-O | Payment or credit of amount by the e-commerce operator to e-commerce participant | 5 Lakh | 1% | 1% |
TDS rate Chart for FY 2021-22 (AY 2022-23) in PDF
Most of the readers demand TDS rate chart in PDF so that they can download and print for future references. We have uploaded the TDS rate chart in PDF. Click here to download TDS Rate chart for FY 2021-22 in PDF
In case PAN is not Quoted then TDS Rate would be highest of following:
- TDS rate prescribed in the Act
- Rates of Tax in force
- At 20%
Hope the above article on latest TDS rate chart for FY 2021-22 brings celerity regarding the TDS rates which are applicable from 1 April 2021 onwards.
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- Shiwali Shukla is a member of ICAI since 2018 & She has excelled in Chartered Accountancy & follows an innovative & talented approach towards work, She is also an Ex- Employee of Ernst & Young. She is having the Expertise in the filed of Direct Taxation, Indirect Taxation, Company Law matters & Finance. She is also having more than 3 years of Experience in the same field. & more than 3 years if Experience in the field of Direct as well as Indirect Taxation..
Namaste Sir
kindly clearity of TDS On rent on plant machinery or furniture,fixture,or individual HUF Partership firms is it difference TDS rate ??? plz. guide us.I am confuse fo all this.