Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Rates for TDS ( Deduction of Tax at Source) in case of a Company for Financial Year 2020-21 (Assessment Year 2021-22)

Rates for TDS ( Deduction of Tax at Source) in case of a Company for Financial Year 2020-21 (Assessment Year 2021-22)
Rates for TDS ( Deduction of Tax at Source) in case of a Company for Financial Year 2020-21 (Assessment Year 2021-22)

1.   Rates of TDS in case of Domestic Company

Rates of TDS
1 On income by way of interest other than “Interest on Securities” 10%
2 on income by way of winnings from lotteries, crossword puzzles, card  games and other games of any sort 30%
3 on income by way of winnings from horse races 30%
4 on any other income 10%

2.   Rates of TDS where the Company is Not a Domestic Company

Rates of TDS
1 on income by way of winnings from lotteries, crossword puzzles, card  games and other games of any sort 30%
2 on income by way of winnings from horse races 30%
3 on income by way of interest payable by Government or an Indian  concern on moneys borrowed or debt incurred by Government or the  Indian concern in foreign currency (not being income by way of  interest referred to in section 194LB or section 194LC) 20%
4 on income by way of royalty payable by Government or an Indian  concern in pursuance of an agreement made by it with the  Government or the Indian concern after 31.3.1976 where such royalty  is in consideration for the transfer of all or any rights (including the  granting of a licence) in respect of copyright in any book on a subject  referred to in the first proviso to sub-section (1A) of section 115A of  the Income-tax Act, to the Indian concern, or in respect of any  computer software referred to in the second proviso to sub-section  (1A) of section 115A of the Income-tax Act, to a person resident in  India 10%
5 on income by way of royalty [not being royalty of the nature referred  to in sub-item (b)(iv)] payable by Government or an Indian concern in  pursuance of an agreement made by it with the Government or the  Indian concern and where such agreement is with an Indian concern,  the agreement is approved by the Central Government or where it  relates to a matter included in the industrial policy, for the time being  in force, of the Government of India, the agreement is in accordance  with that policy—
(A)    where the agreement is made after 31.3.1961 but before the 1st day of  April, 1976 50%
(B)    where the agreement is made after 31.3.1976 10%
6 on income by way of fees for technical services payable by the  Government or an Indian concern in pursuance of an agreement made  by it with the Government or the Indian concern and where such  agreement is with an Indian concern, the agreement is approved by  the Central Government or where it relates to a matter included in the  industrial policy, for the time being in force, of the Government of  India, the agreement is in accordance with that policy—
        i.            where the agreement is made after 29.2.1964 but before 1.4.1976 50%
      ii.            where the agreement is made after 31.3.1976 10%
7 on income by way of short-term capital gains referred to in  section 111A 15%
8 on income by way of long-term capital gains referred to in  sub-clause (iii) of clause (c) of sub-section (1) of section 112 10%
9 on income by way of long-term capital gains referred to in  section 112A exceeding ₹1,00,000 10%
10 on income by way of other long-term capital gains [not being  long-term capital gains referred to in clauses (33) and (36) of section  10] 20%
11 on any other income 40%
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