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 Person other than a Company for Financial Year 2020-21 (Assessment Year 2021-22)

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

1.   Rates of TDS Where the Person is Resident in India

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%;  (iv) 30%
4 on income by way of insurance commission 5%
5 on income by way of interest payable on— 10%
(A)    any debentures or securities for money issued by or on behalf of any  local authority or a corporation established by a Central, State or  Provincial Act;
(B)    any debentures issued by a company where such debentures are listed  on a recognised stock exchange in India in accordance with the  Securities Contracts (Regulation) Act, 1956 and any rules made  thereunder;
(C)    any security of the Central or State Government;
6 on any other income 10%

2.   Rates of TDS Where the Person is Non-Resident in India

Rates of TDS
1 on any investment income 20%
2 on income by way of long-term capital gains referred to in section  115E or sub-clause (iii) of clause (c) of sub-section (1) of section 112 10%
3 on income by way of long-term capital gains referred to in section  112A 10%
4 on other income by way of long-term capital gains [not being capital  gains referred to in clauses (33) and (36) of section 10] referred to in  section 112A exceeding ₹1,00,000 20%
5 on income by way of short-term capital gains referred to in section  111A 15%
6 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%
7 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 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 section115A 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 section115A of the Income-tax Act, to a person resident in  India 10%
8 on income by way of royalty [not being royalty of the nature referred  to in sub-item (b)(i)(G)] 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 10%
9 on income by way of fees for technical services 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 10%
10 on income by way of winnings from lotteries, crossword puzzles, card  games and other games of any sort 30%
11 on income by way of winnings from horse races 30%
See also  [Section 206AA]- TDS on payments made to Resident and its Requirement to furnish PAN

3.   Rates of TDS in case of any other Person in India

Rates of TDS
1 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 section194LB or section 194LC) 20%
2 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 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%
3 on income by way of royalty [not being royalty of the nature referred  to in sub-item (b)(ii)(B)] 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 10%
4 on income by way of fees for technical services 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 10%
5 on income by way of winnings from lotteries, crossword puzzles, card  games and other games of any sort 30%
6 on income by way of winnings from horse races 30%
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 the whole of the other income 30%
See also  Prescribed Reports / Certificates from a Chartered Accountant U/s 288(2)

 

%d bloggers like this: